Operating Profit Up 1500% Year-on-Year
Sales Down 3% to 1.9 Trillion KRW
Hanssem's operating profit soared nearly 16 times last year, driven by strong performance in business-to-consumer (B2C) transactions.
On the 6th, Hanssem announced that its provisional sales for last year reached 1.9084 trillion KRW, with an operating profit of 31.2 billion KRW. Although sales decreased by 3% compared to the previous year due to the downturn in the construction and real estate markets and delayed recovery in consumer sentiment, operating profit surged by an impressive 1504.3%.
In particular, the B2C sector showed strong growth in the fourth quarter, with sales increasing by 4.2% year-on-year. Among these, the home furnishing division led the B2C performance, growing 9.6% year-on-year in the fourth quarter.
Hanssem stated, "Having succeeded in improving profitability through structural cost ratio enhancements, we expect that future growth in the B2C sector will further solidify our performance improvements. If a structure where sales growth and profitability improvement occur simultaneously is established, Hanssem will be able to lay the foundation for mid- to long-term growth."
Hanssem plans to firmly establish itself as a true industry-leading company this year. Just as it achieved results last year by focusing on core products that reflected customer and market needs and enhanced ease of use, it plans to further strengthen products and services that deliver Hanssem’s unique differentiated value this year. In addition to product development, it will improve quality at all customer touchpoints?including marketing, sales, construction, and after-sales service (A/S)?to enhance customer experience and strengthen brand desirability.
Hanssem said, "Based on strong brand power and performance improvements in the B2C market, we will continue to achieve simultaneous growth in both B2C and B2B sectors, further solidifying our position as an industry-leading company."
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