Coway's Sales Reach 4.31 Trillion KRW Last Year, Up 8.7% YoY

Fourth Quarter Sales Reach 1.1257 Trillion Won, Operating Profit Hits 183.4 Billion Won

Coway has entered the era of annual sales exceeding 4 trillion won.

Coway announced on the 14th that its sales in the fourth quarter of last year reached 1.1257 trillion won, a 12.1% increase compared to the same period last year. Operating profit rose 10.4% year-on-year to 183.4 billion won.

Last year's annual sales amounted to 4.3101 trillion won, up 8.7% from the previous year, and operating profit was 795.4 billion won, an 8.8% increase.

Domestic business recorded sales of 2.5817 trillion won, an 8.8% increase year-on-year, driven by major products such as water purifiers, air purifiers, bidets, and the rapidly growing BEREX sales.

Coway's overseas subsidiaries posted annual sales of 1.5452 trillion won, an 8.0% increase compared to the previous year. Annual sales by major subsidiaries were ▲Malaysia subsidiary 1.1584 trillion won ▲U.S. subsidiary 214.2 billion won ▲Thailand subsidiary 125.7 billion won, among others.

Seo Jang-won, CEO of Coway, said, “Despite challenging domestic and international environments, we strengthened our business competitiveness through sound management and expanded research and development, achieving stable business performance both domestically and internationally. This year, we plan to continue steady growth by accelerating the ‘New Coway’ strategy focused on differentiated innovative product development and global market expansion.”

Meanwhile, Coway announced on the 13th that it decided on a cash dividend of 2,630 won per share as a year-end dividend. The total dividend amount is 189.1 billion won, representing a 93% increase compared to the total dividend amount of the previous year.