Hyundai Livart Achieves Profit Turnaround Last Year... Sales Also Reach 'All-Time High'

Sales Reach 1.8707 Trillion KRW, Operating Profit at 24 Billion KRW
Fourth Quarter Turns to Loss Due to Increased Costs

Hyundai Livart recorded its highest-ever sales last year.

On the 11th, Hyundai Livart announced that it turned a profit with an operating profit of 24 billion KRW on a consolidated basis last year. Sales also rose 18% compared to the previous year to 1.8707 trillion KRW, marking the highest sales in history.

The fourth-quarter performance was sluggish compared to the first to third quarters. Sales recorded 414.8 billion KRW, down 1.3% year-on-year, and it turned to an operating loss of 700 million KRW.

A Hyundai Livart official explained, "Last year's sales achieved an all-time high due to increased supply volume of built-in furniture, expanded B2C (business-to-consumer) interior demand, and strong overseas business, and operating profit also turned positive."

However, the official added, "Regarding the fourth-quarter performance, although the operating loss margin improved due to increased B2C furniture sales, the loss continued due to increased costs from the temporary reflection of estimated burdens for ordinary wages. Additionally, sales slightly decreased as the supply timing of built-in furniture was delayed due to delays in preceding processes."