SEOUL, South Korea, May 10, 2024 /PRNewswire/ -- Coway Co., Ltd., the "Best Life Solution Company," today reported its financial results for the first quarter of 2024.
"Coway continues to maintain consistent performance with a revenue that's surpassed 1 trillion won for four consecutive quarters," said Soon Tae Kim, Coway's Chief Financial Officer. "In the upcoming second quarter, the launch of the 2024 Icon Ice Water Purifier and the continued success of the BEREX (Bed & Relax) lineup are forecasted to sustain our growth momentum."
Coway's reported earnings are as follows:
- First-quarter revenue: KRW 1,001.8 billion (+5.6% YoY)
- First-quarter operating profit: KRW 193.7 billion (+10.3% YoY)
* The reported figures are taken from the consolidated K-IFRS (International Financial Reporting Standards) statement. |
Domestic business recorded a first-quarter revenue of KRW 612.3 billion, making a 5.5% year-on-year increase. This figure reflects the robust sales performance of both the BEREX lineup and water purifiers.
Coway's overseas subsidiaries reported a first-quarter revenue of KRW 355.1 billion, up 5.5% from the same period last year. Notably, the United States and Thailand were the key growth subsidiaries, achieving revenues of KRW 44.9 billion (+15.7% YoY) and KRW 29.8 billion (+36.2% YoY) respectively.
For additional details about Coway's financial performance, please visit the company's Investor Relations page.
SOURCE Coway Co., Ltd.
