{"id":26454,"date":"2024-05-10T08:03:00","date_gmt":"2024-05-10T08:03:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4411074_AE11074_0"},"modified":"2024-05-10T08:03:00","modified_gmt":"2024-05-10T08:03:00","slug":"coway-announces-financial-results-for-q1-fy2024","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=26454","title":{"rendered":"Coway Announces Financial Results for Q1 FY2024"},"content":{"rendered":"<br \/>\n<table name=\"logo_release\" border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/1395396\/Logo_Logo.jpg?p=medium600\" border=\"0\" alt=\"\" title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span class=\"xn-location\">SEOUL, South Korea<\/span>, <span class=\"xn-chron\">May 10, 2024<\/span> \/PRNewswire\/ &#8212; Coway Co., Ltd., the &quot;Best Life Solution Company,&quot; today reported its financial results for the first quarter of 2024.<\/p>\n<p>&quot;Coway continues to maintain consistent performance with a revenue that&#8217;s surpassed <span class=\"xn-money\">1 trillion won<\/span> for four consecutive quarters,&quot; said <span class=\"xn-person\">Soon Tae Kim<\/span>, Coway&#8217;s Chief Financial Officer. &quot;In the upcoming second quarter, the launch of the 2024 Icon Ice Water Purifier and the continued success of the BEREX (Bed &amp; Relax) lineup are forecasted to sustain our growth momentum.&quot;<\/p>\n<p>Coway&#8217;s reported earnings are as follows:<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder8721\">\n<p style=\"TEXT-ALIGN: center; WIDTH: 100%\"><a href=\"https:\/\/mma.prnasia.com\/media2\/2409614\/Image__Coway_Finanacial_Results.html\" target=\"_blank\" rel=\"nofollow noopener\"><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2409614\/Image__Coway_Finanacial_Results.jpg?p=medium600\" title=\"Coway Financial Results\" alt=\"Coway Financial Results\" \/><\/a><br \/><span>Coway Financial Results<\/span><\/p>\n<\/p><\/div>\n<ul type=\"disc\">\n<li>First-quarter revenue: <span class=\"xn-money\">KRW 1,001.8 billion<\/span> (+5.6% YoY)<\/li>\n<li>First-quarter operating profit: <span class=\"xn-money\">KRW 193.7 billion<\/span> (+10.3% YoY)<\/li>\n<\/ul>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody>\n<tr>\n<td class=\"prnpr2 prnpl2 prnvab prnsbtb0 prnrbrb0 prnsbbb0 prnsblb0\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">* The reported figures are taken from the consolidated K-IFRS (International Financial Reporting Standards) statement.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>Domestic business recorded a first-quarter revenue of <span class=\"xn-money\">KRW 612.3 billion<\/span>, making a 5.5% year-on-year increase. This figure reflects the robust sales performance of both the BEREX lineup and water purifiers.<\/p>\n<p>Coway&#8217;s overseas subsidiaries reported a first-quarter revenue of <span class=\"xn-money\">KRW 355.1 billion<\/span>, up 5.5% from the same period last year. Notably, <span class=\"xn-location\">the United States<\/span> and <span class=\"xn-location\">Thailand<\/span> were the key growth subsidiaries, achieving revenues of <span class=\"xn-money\">KRW 44.9 billion<\/span> (+15.7% YoY) and <span class=\"xn-money\">KRW 29.8 billion<\/span> (+36.2% YoY) respectively.<\/p>\n<p>For additional details about Coway&#8217;s financial performance, please visit the company&#8217;s <a href=\"http:\/\/www.cowayir.com\/ir\/Index\" target=\"_blank\" rel=\"nofollow noopener\">Investor Relations<\/a> page.<\/p>\n<p><i><b>About Coway Co., Ltd.&nbsp;&nbsp;<\/b><\/i><\/p>\n<p>Established in Korea in 1989, Coway, the &quot;Best Life Solution Company,&quot; is a leading environmental home appliances company making people&#8217;s lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. The company&#8217;s most recent venture, the BEREX brand, aims to improve sleep and wellness through cutting-edge mattresses and massage chairs. Since being founded, Coway has become a leader in the environmental home appliances industry, with intensive research, engineering, development, and customer service. The company has proven dedication to innovation with award-winning products, home health expertise, unrivaled market share, customer satisfaction, and brand recognition. Coway continues to innovate by diversifying product lines and accelerating overseas business in <span class=\"xn-location\">Malaysia<\/span>, the <span class=\"xn-location\">USA<\/span>, <span class=\"xn-location\">Thailand<\/span>, <span class=\"xn-location\">China<\/span>, <span class=\"xn-location\">Indonesia<\/span>, <span class=\"xn-location\">Vietnam<\/span>, <span class=\"xn-location\">Japan<\/span>, and <span class=\"xn-location\">Europe<\/span>, based on the business success in Korea. For more information, please visit <a href=\"http:\/\/www.coway.com\/\" target=\"_blank\" rel=\"nofollow noopener\">http:\/\/www.coway.com\/<\/a> or <a href=\"http:\/\/newsroom.coway.com\/\" target=\"_blank\" rel=\"nofollow noopener\">http:\/\/newsroom.coway.com<\/a>.&nbsp;&nbsp;<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder0\">\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SEOUL, South Korea, May 10, 2024 \/PRNewswire\/ &#8212; Coway Co., Ltd., the &quot;Best Life Solution Company,&quot; today reported its financial results for the first quarter of 2024. &quot;Coway continues to maintain consistent performance with a revenue that&#8217;s surpassed 1 trillion won for four consecutive quarters,&quot; said Soon Tae Kim, Coway&#8217;s Chief Financial Officer. &quot;In the [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-26454","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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