Coway Announces Financial Results for Q4 and FY2024
Jangwon Seo, CEO of Coway stated:

“We’re pleased to have delivered stable performance across both domestic and international markets in 2024, even amid challenging business environments.
This success was driven by our disciplined management approach and our commitment to expanding R&D. Looking ahead, as we accelerate our ‘New Coway’ strategy, we will focus on developing differentiated, innovative products and expanding our global footprint to drive sustained growth.”

Coway reported the following earnings:

Fourth-quarter revenue: KRW 1,125.7 billion (+12.1% YoY)
Fourth-quarter operating profit: KRW 183.4 billion (+10.4% YoY)
Annual revenue: KRW 4,310.1 billion (+8.7% YoY)
Annual operating profit: KRW 795.4 billion (+8.8% YoY)

*The reported figures are taken from the consolidated K-IFRS (International Financial Reporting Standards) statement.
In 2024, Coway’s domestic business recorded a revenue of KRW 2,581.7 billion, marking an 8.8% increase compared to the previous year. This growth was driven by the strong sales of key products such as water purifiers, air purifiers and bidets, as well as the expanding sales of the high-growth BEREX brand.
Coway’s overseas subsidiaries reported an annual revenue of KRW 1,545.2 billion in 2024, showing an 8.0% increase compared to the prior year. In Malaysia, annual revenue saw a 6.6% increase from the previous year to reach KRW 1,158.4 billion, while the United States subsidiary recorded an annual revenue of KRW

Read more...