NOROO Paint Reports 4.7 Billion KRW Operating Profit in Q1, Down 47% Year-on-Year

Sales Reach 172.1 Billion KRW
"Impact of Delayed Recovery in Construction Sector"

NOROO Paint announced on the 16th that its operating profit for the first quarter of this year was 4.7 billion KRW, down 47.2% compared to the same period last year.

Sales reached 172.1 billion KRW, maintaining a similar level to the same period last year (172.4 billion KRW).

NOROO Paint stated, "With the continued high interest rates and high inflation, the recovery of the construction market has been delayed. As a result, we focused on defending sales by maintaining a stable demand base, such as the repainting market in the Seoul metropolitan area." The company added, "Although we continued efforts to shift our portfolio toward high value-added products and improve production efficiency, operating profit declined due to an overall contraction in domestic market demand."

NOROO Paint plans to pursue sustainable growth by expanding its new materials business, including molding agents for secondary batteries, and by diversifying its product lineup based on technology.