Korea Carbon, a shipbuilding, materials, and parts specialist, announced on the 24th that it recorded consolidated sales of KRW 908.8 billion and operating profit of KRW 130.9 billion last year. Sales increased 22.5% from the previous year's KRW 741.7 billion, while operating profit soared 188.1% from the previous year's KRW 45.4 billion, representing a roughly 2.9-fold increase.
The fourth quarter performance continued its upward trend. Sales reached KRW 231.8 billion, and operating profit reached KRW 38.3 billion, representing increases of 19.4% and 120.1%, respectively, compared to the same period last year. The operating profit margin rose from 8.9% to 16.5%, demonstrating a clear recovery in profitability.
The company explained that the improved performance was driven by the booming shipbuilding industry and increased sales in its key business divisions. Increased demand for shipbuilding insulation and carbon composite materials led to increased sales and stronger operating leverage. Improved cost efficiency and exchange rate effects also contributed to the improved profitability.
Korea Carbon is expanding its business portfolio based on its composite material technology for shipbuilding, energy, and new industries. Marine insulation and carbon fiber composite materials are continuing to grow, fueled by the expanding markets for LNG carriers and eco-friendly propulsion ships. It also plans to expand new projects in the high-performance materials sector.
A company official said that profits increased significantly thanks to growth in key businesses and cost efficiency, and that the company will strengthen its technological competitiveness in the shipbuilding, energy, and new industry materials sectors, where demand is expected to increase, to lay the foundation for stable growth.
- See more related articles
You must be logged in to post a comment.