Newbotech, a KOSDAQ-listed company, announced on the 14th that it recorded an operating profit of 2.6 billion KRW and a net profit of 2.2 billion KRW in the third quarter of this year. This represents an increase of 48% and 315%, respectively, compared to the same period last year.
In the same period last year, the company recorded an operating profit of approximately 1.7 billion KRW and a net profit of about 500 million KRW. Compared to the operating loss of 100 million KRW and net loss of 6 billion KRW at the end of the previous year, this is a significant improvement in performance.
Newbotech significantly reduced selling and administrative expenses as well as non-operating expenses through management efficiency. Selling and administrative expenses decreased by about 9% compared to the same period last year, and non-operating expenses were reduced by approximately 61%.
A company representative explained, “This result was achieved through various management efficiencies such as productivity improvement and cost reduction efforts, demonstrating that Newbotech’s management strategy is operating successfully.”
A notable highlight is the performance of the deicing agent business. Sales from Newbotech’s deicing agent business increased by about 59% compared to the same period last year. The Eco-Dano product has been steadily chosen by local governments nationwide, leading to continuous sales growth. This is expected to play a significant role as a future growth engine for Newbotech.
A Newbotech representative stated, “We are continuously considering overall indicators such as sales and operating profit and growth. We plan to focus on strengthening Newbotech’s competitiveness and strive to enhance corporate and shareholder value based on thorough risk management and a solid financial structure.”
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