Copper Price Surge and Strong Defense Exports
Net Profit Reaches 236 Billion KRW, Up 50.9%
Pungsan achieved its highest-ever sales last year, driven by rising copper prices and strong exports in the defense sector.
On the 11th, Pungsan announced that its consolidated operating profit for last year was tentatively estimated at 323.7 billion KRW, a 41.6% increase compared to the same period the previous year. Sales rose 10.4% to 4.5544 trillion KRW, and net profit increased by 50.9% to 236 billion KRW. The sales figure represents a record high.
The company explained that sales volume in the copper products business segment rose by about 2,000 tons to 178,000 tons from 176,000 tons the previous year, and that the defense business segment achieved record sales due to a favorable export environment.
Operating profit in the fourth quarter of last year was 33.869 billion KRW, down 41.6% from the same period the previous year. During this period, sales were 1.228 trillion KRW and net profit was 40.256 billion KRW, increasing by 10.3% and 9.5%, respectively.
By business segment, sales in the copper products segment last year were 2.3235 trillion KRW, up 402 billion KRW from 2.1119 trillion KRW the previous year. The defense segment increased from 989.6 billion KRW to 1.1791 trillion KRW.
The company stated regarding the copper products segment, "Sales increased due to rising copper prices and sales volume." Regarding the defense segment, it said, "We achieved steady domestic sales and recorded maximum sales by maximizing defense exports amid global conflicts."
In the IR (Investor Relations) materials released that day, Pungsan forecasted limited growth domestically this year due to sluggish domestic demand and political uncertainty. Overseas, selective economic recovery is expected amid conflicts with China following policies by U.S. President Donald Trump. Accordingly, the sales target for this year was set at 3.7994 trillion KRW on a non-consolidated basis.
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