Hanssem Posts Q3 Operating Profit of 6.8 Billion Won, Down 6.1% YoY

Sales Down 2.8% Amid Construction Slump and Weak Consumer Demand
Solid Performance in B2C; B2B Business Structure to Be Reshaped
Aiming to Improve Profitability Through New Products and Advanced Distribution Channels

Hanssem announced on November 10 that its consolidated sales for the third quarter of this year reached 441.4 billion won, with an operating profit of 6.8 billion won. These figures represent decreases of 2.8% and 6.1%, respectively, compared to the same period last year.

The company explained that, despite the prolonged downturn in the construction market and declining consumer demand resulting in an overall contraction of the interior and furniture market, it managed to perform relatively well, particularly in the B2C (business-to-consumer) sector.

Hanssem Sangam Building. Hanssem

Hanssem plans to overcome the challenging market environment by continuously strengthening product competitiveness in its core categories, expanding its distribution capabilities both online and offline, and reinforcing its mid- to long-term profit base through the expansion of its B2B (business-to-business) portfolio.

In the fourth quarter, the company intends to launch new products in key categories such as student rooms, bathrooms, and kids’ furniture, while also further advancing its distribution channel strategies through flagship stores and online channels.

In response to the slowdown in the property sales market, the B2B division will undergo a business structure reorganization. Hanssem aims to secure new growth drivers by continuously expanding its presence in the cooperative market and enhancing product and cost competitiveness. The company also plans to complete the reorganization of its office furniture lineup within the fourth quarter to actively target the market. Additionally, Hanssem will expand its system furniture product range to further strengthen its mid- to long-term profit base.

Through these efforts, Hanssem aims to establish a balanced business model between B2C and B2B, ensuring sustainable growth moving forward.

A Hanssem representative stated, "We will continue to enhance our leadership in the home interior industry by increasing investment in fundamental competitiveness and maintaining efficient management practices."

This content was produced with the assistance of AI translation services.