{"id":28707,"date":"2024-08-09T08:00:00","date_gmt":"2024-08-09T08:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4480485_AE80485_0"},"modified":"2024-08-09T08:00:00","modified_gmt":"2024-08-09T08:00:00","slug":"coway-announces-financial-results-for-q2-fy2024","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=28707","title":{"rendered":"Coway Announces Financial Results for Q2 FY2024"},"content":{"rendered":"<div id=\"dvContent\" readability=\"100.70345596433\">\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\">Aug. 9, 2024<\/span> \/PRNewswire\/ &#8212; Today, Coway Co., Ltd., the &#8220;Best Life Solution Company,&#8221; announced its financial results for the second quarter of 2024.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p> <a href=\"https:\/\/mma.prnasia.com\/media2\/2478867\/Image__Coway_Financial_Results.html\" target=\"_blank\" rel=\"nofollow noopener\"> <img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2478867\/Image__Coway_Financial_Results.jpg?p=medium600\" title=\"Coway Financial Results\" alt=\"Coway Financial Results\"> <\/a> <br \/><span>Coway Financial Results<\/span><\/p>\n<\/p><\/div>\n<p>&#8220;Coway achieved both external expansion and profitability driven by strong sales of our key product lines like the ice water purifiers and BEREX lineup,&#8221; said <span class=\"xn-person\">Soon Tae Kim<\/span>, Coway&#8217;s Chief Financial Officer. &#8220;In the second half of the year, we aim to strengthen our market leadership through technological and design innovations, ensuring continued growth.&#8221;<\/p>\n<p>Coway&#8217;s reported earnings are as follows:<\/p>\n<ul type=\"disc\">\n<li>Second quarter revenue:&nbsp;KRW 1,082.3 billion (+7.6% YoY)<\/li>\n<li>Second quarter operating profit:&nbsp;KRW 211.2 billion (+8.8% YoY)<\/li>\n<\/ul>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody readability=\"1.5\">\n<tr readability=\"4.5\">\n<td class=\"prnpr2 prnpl2 prnvab prnsbtb0 prnrbrb0 prnsbbb0 prnsblb0\" colspan=\"1\" rowspan=\"1\" readability=\"6\">\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>Cumulative revenue for 2024 now stands at&nbsp;KRW 2,084.1 billion&nbsp;(+6.6% YoY) with an operating profit of&nbsp;KRW 404.9 billion&nbsp;(+9.5% YoY).<\/p>\n<p>In <span class=\"xn-location\">South Korea<\/span>, domestic business generated <span class=\"xn-money\">KRW 655.7 billion<\/span> in revenue for the second quarter, making an 11.1% increase compared to the previous year. This growth is primarily attributed to the solid rental sales of both BEREX&#8217;s lineup of mattresses and massage chairs and the &#8216;Icon Ice Water Purifier&#8217;.<\/p>\n<p>Coway&#8217;s overseas subsidiaries maintained a strong growth trajectory with revenue of <span class=\"xn-money\">KRW 382.2 billion<\/span> in the second quarter, with the <span class=\"xn-location\">Malaysia<\/span> subsidiary contributing <span class=\"xn-money\">KRW 286.9 billion<\/span> and the <span class=\"xn-location\">Thailand<\/span> subsidiary attaining <span class=\"xn-money\">KRW 28.7 billion<\/span>.<\/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>&nbsp;page.<\/p>\n<p><b><i>About Coway Co., Ltd.<br \/><\/i><\/b>Established in Korea in 1989, Coway, the &#8220;Best Life Solution Company,&#8221; 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&nbsp;brand, aims to improve sleep and wellness through cutting-edge mattresses and massage chairs. Since being founded, Coway&nbsp;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&nbsp;continues to innovate by diversifying product lines and accelerating overseas business in <span class=\"xn-location\">Malaysia<\/span>, <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. &nbsp;For more information, please visit <a href=\"http:\/\/coway.com\/\" target=\"_blank\" rel=\"nofollow noopener\">http:\/\/coway.com\/<\/a> or <a href=\"http:\/\/newsroom.coway.com\/\" target=\"_blank\" rel=\"nofollow noopener\">http:\/\/newsroom.coway.com<\/a>.<\/p>\n<\/p><\/div>\n<p>Source: Coway Co., Ltd.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SEOUL, South Korea, Aug. 9, 2024 \/PRNewswire\/ &#8212; Today, Coway Co., Ltd., the &#8220;Best Life Solution Company,&#8221; announced its financial results for the second quarter of 2024. Coway Financial Results &#8220;Coway achieved both external expansion and profitability driven by strong sales of our key product lines like the ice water purifiers and BEREX lineup,&#8221; said [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":28708,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-28707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Coway Announces Financial Results for Q2 FY2024 - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=28707\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coway Announces Financial Results for Q2 FY2024 - My Blog\" \/>\n<meta property=\"og:description\" content=\"SEOUL, South Korea, Aug. 9, 2024 \/PRNewswire\/ &#8212; Today, Coway Co., Ltd., the &#8220;Best Life Solution Company,&#8221; announced its financial results for the second quarter of 2024. 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