Samhwa Paint Reports Q4 Operating Loss of 900 Million Won Due to High Exchange Rates and Oil Prices

Operating Profit Reached 18.98 Billion KRW Last Year, Down 26.5% Year-on-Year
"Reverse Base Effect from Previous Year's Strong Performance"

Samhwa Paint recorded an operating loss of 898 million KRW on a consolidated basis in the fourth quarter of last year.

On the 3rd, Samhwa Paint announced that it posted sales of 628.348 billion KRW and an operating profit of 18.982 billion KRW for the previous year. Compared to the previous year, sales decreased by 0.5% and operating profit decreased by 26.5%, respectively.

In the fourth quarter, due to the burden of raw material costs caused by high exchange rates and high oil prices, the company turned to a loss with an operating loss of 898 million KRW. Sales recorded 154.798 billion KRW, down 4.1% from the previous year.

A company official said, "This seems to be a base effect following last year's strong performance," adding, "There have been many crises over the 78 years since our establishment, and we have grown by turning them into opportunities. This year, we plan to sequentially introduce new business items that we have been preparing."