{"id":18006,"date":"2025-02-14T21:08:12","date_gmt":"2025-02-14T14:08:12","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=18006"},"modified":"2025-02-14T21:08:12","modified_gmt":"2025-02-14T14:08:12","slug":"coway-announces-financial-results-for-q4-and-fy2024","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=18006","title":{"rendered":"Coway Announces Financial Results for Q4 and FY2024"},"content":{"rendered":"<table 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<ul type=\"disc\">\n<li>Coway&#8217;s 2024 Q4 revenue reached <span class=\"xn-money\">KRW 1,125.7 billion<\/span> (+12.1% YoY) with an operating profit amounted to <span class=\"xn-money\">KRW 183.4 billion<\/span> (+10.4% YoY)<\/li>\n<li>The company&#8217;s FY2024 annual revenue totaled <span class=\"xn-money\">KRW 4,310.1 billion<\/span> (+8.7% YoY) with an operating profit of <span class=\"xn-money\">KRW 795.4 billion<\/span> (+8.8% YoY)<\/li>\n<li>Coway plans to drive steady growth in 2025 by accelerating its &#8216;New Coway&#8217; strategy<\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SEOUL, South Korea<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Feb. 14, 2025<\/span><\/span> \/PRNewswire\/ &#8212;\u00a0Coway Co., Ltd., the &#8220;Best Life Solution Company,&#8221; has released its financial results for the fourth quarter and fiscal year 2024.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<p><a href=\"https:\/\/mma.prnasia.com\/media2\/2620373\/Image__Coway_Financial_Results.html\" target=\"_blank\" rel=\"nofollow\"><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2620373\/Image__Coway_Financial_Results.jpg?p=medium600\" title=\"Coway Financial Results\" alt=\"Coway Financial Results\" \/><\/a><br \/><span>Coway Financial Results<\/span><\/p>\n<\/div>\n<p>&#8220;We&#8217;re pleased to have delivered stable performance across both domestic and international markets in 2024, even amid challenging business environments,&#8221; stated <span class=\"xn-person\">Jangwon Seo<\/span>, CEO of Coway. &#8220;This success was driven by our disciplined management approach and our commitment to expanding R&amp;D. Looking ahead, as we accelerate our &#8216;New Coway&#8217; strategy, we will focus on developing differentiated, innovative products and expanding our global footprint to drive sustained growth.&#8221;<\/p>\n<p>Coway reported the following earnings:<\/p>\n<ul type=\"disc\">\n<li>Fourth-quarter revenue: <span class=\"xn-money\">KRW 1,125.7 billion<\/span> (+12.1% YoY)<\/li>\n<li>Fourth-quarter operating profit: <span class=\"xn-money\">KRW 183.4 billion<\/span> (+10.4% YoY)<\/li>\n<li>Annual revenue: <span class=\"xn-money\">KRW 4,310.1 billion<\/span> (+8.7% YoY)<\/li>\n<li>Annual operating profit: <span class=\"xn-money\">KRW 795.4 billion<\/span> (+8.8% 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 prnsbtb1 prnrbrb1 prnsbbb1 prnsblb1\" 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>In 2024, Coway&#8217;s domestic business recorded a revenue of <span class=\"xn-money\">KRW 2,581.7 billion<\/span>, 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.<\/p>\n<p>Coway&#8217;s overseas subsidiaries reported an annual revenue of <span class=\"xn-money\">KRW 1,545.2 billion<\/span> in 2024, showing an 8.0% increase compared to the prior year. In <span class=\"xn-location\">Malaysia<\/span>, annual revenue saw a 6.6% increase from the previous year to reach <span class=\"xn-money\">KRW 1,158.4 billion<\/span>, while <span class=\"xn-location\">the United States<\/span> subsidiary recorded an annual revenue of <span class=\"xn-money\">KRW 214.2 billion<\/span>, up 4.4% from 2023, and <span class=\"xn-location\">Thailand<\/span> recorded an impressive year-over-year growth of 24.3% and a <span class=\"xn-money\">KRW 125.7 billion<\/span> annual revenue.<\/p>\n<p>Coway announced that it has decided upon a year-end cash dividend of <span class=\"xn-money\">KRW 2,630<\/span> per share as a year-end dividend. The total dividend payout amounts to <span class=\"xn-money\">KRW 189.1 billion<\/span>, representing a 93% increase compared to the previous year&#8217;s total dividend of <span class=\"xn-money\">KRW 98.0 billion<\/span> (<span class=\"xn-money\">KRW 1,350<\/span> per share).<\/p>\n<p>In addition, Coway will unveil its &#8216;Corporate Value-Up Program,&#8217; with the key focus being the expansion of the shareholder return ratio from the previous 20% to 40% over the next three years. This plan includes measures such as cash dividends and cancellation of treasury shares.<\/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\">Investor Relations<\/a>\u00a0page.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<\/div>\n<p><b><i>About Coway Co., Ltd.\u00a0<\/i><\/b><\/p>\n<p>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 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\u00a0Malaysia, the\u00a0USA,\u00a0Thailand,\u00a0China,\u00a0Indonesia,\u00a0Vietnam,\u00a0Japan, and\u00a0Europe, based on the business success in Korea. For more information, please visit\u00a0<a href=\"http:\/\/www.coway.com\/\" target=\"_blank\" rel=\"nofollow\">http:\/\/www.coway.com\/<\/a>\u00a0or<a href=\"http:\/\/newsroom.coway.com\/\" target=\"_blank\" rel=\"nofollow\">\u00a0http:\/\/newsroom.coway.com<\/a>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">  <\/div>","protected":false},"excerpt":{"rendered":"<p><!-- wp:html --><\/p>\n<table 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<ul type=\"disc\">\n<li>Coway&#8217;s 2024 Q4 revenue reached <span class=\"xn-money\">KRW 1,125.7 billion<\/span> (+12.1% YoY) with an operating profit amounted to <span class=\"xn-money\">KRW 183.4 billion<\/span> (+10.4% YoY)<\/li>\n<li>The company&#8217;s FY2024 annual revenue totaled <span class=\"xn-money\">KRW 4,310.1 billion<\/span> (+8.7% YoY) with an operating profit of <span class=\"xn-money\">KRW 795.4 billion<\/span> (+8.8% YoY)<\/li>\n<li>Coway plans to drive steady growth in 2025 by accelerating its &#8216;New Coway&#8217; strategy<\/li>\n<\/ul>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">SEOUL, South Korea<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Feb. 14, 2025<\/span><\/span> \/PRNewswire\/ &#8212;\u00a0Coway Co., Ltd., the &#8220;Best Life Solution Company,&#8221; has released its financial results for the fourth quarter and fiscal year 2024.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<p><a href=\"https:\/\/mma.prnasia.com\/media2\/2620373\/Image__Coway_Financial_Results.html\" target=\"_blank\" rel=\"nofollow\"><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2620373\/Image__Coway_Financial_Results.jpg?p=medium600\" title=\"Coway Financial Results\" alt=\"Coway Financial Results\" \/><\/a><br \/><span>Coway Financial Results<\/span><\/p>\n<\/div>\n<p>&#8220;We&#8217;re pleased to have delivered stable performance across both domestic and international markets in 2024, even amid challenging business environments,&#8221; stated <span class=\"xn-person\">Jangwon Seo<\/span>, CEO of Coway. &#8220;This success was driven by our disciplined management approach and our commitment to expanding R&amp;D. Looking ahead, as we accelerate our &#8216;New Coway&#8217; strategy, we will focus on developing differentiated, innovative products and expanding our global footprint to drive sustained growth.&#8221;<\/p>\n<p>Coway reported the following earnings:<\/p>\n<ul type=\"disc\">\n<li>Fourth-quarter revenue: <span class=\"xn-money\">KRW 1,125.7 billion<\/span> (+12.1% YoY)<\/li>\n<li>Fourth-quarter operating profit: <span class=\"xn-money\">KRW 183.4 billion<\/span> (+10.4% YoY)<\/li>\n<li>Annual revenue: <span class=\"xn-money\">KRW 4,310.1 billion<\/span> (+8.7% YoY)<\/li>\n<li>Annual operating profit: <span class=\"xn-money\">KRW 795.4 billion<\/span> (+8.8% 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 prnsbtb1 prnrbrb1 prnsbbb1 prnsblb1\" 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>\n<\/div>\n<p>In 2024, Coway&#8217;s domestic business recorded a revenue of <span class=\"xn-money\">KRW 2,581.7 billion<\/span>, 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.<\/p>\n<p>Coway&#8217;s overseas subsidiaries reported an annual revenue of <span class=\"xn-money\">KRW 1,545.2 billion<\/span> in 2024, showing an 8.0% increase compared to the prior year. In <span class=\"xn-location\">Malaysia<\/span>, annual revenue saw a 6.6% increase from the previous year to reach <span class=\"xn-money\">KRW 1,158.4 billion<\/span>, while <span class=\"xn-location\">the United States<\/span> subsidiary recorded an annual revenue of <span class=\"xn-money\">KRW 214.2 billion<\/span>, up 4.4% from 2023, and <span class=\"xn-location\">Thailand<\/span> recorded an impressive year-over-year growth of 24.3% and a <span class=\"xn-money\">KRW 125.7 billion<\/span> annual revenue.<\/p>\n<p>Coway announced that it has decided upon a year-end cash dividend of <span class=\"xn-money\">KRW 2,630<\/span> per share as a year-end dividend. The total dividend payout amounts to <span class=\"xn-money\">KRW 189.1 billion<\/span>, representing a 93% increase compared to the previous year&#8217;s total dividend of <span class=\"xn-money\">KRW 98.0 billion<\/span> (<span class=\"xn-money\">KRW 1,350<\/span> per share).<\/p>\n<p>In addition, Coway will unveil its &#8216;Corporate Value-Up Program,&#8217; with the key focus being the expansion of the shareholder return ratio from the previous 20% to 40% over the next three years. This plan includes measures such as cash dividends and cancellation of treasury shares.<\/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\">Investor Relations<\/a>\u00a0page.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<\/div>\n<p><b><i>About Coway Co., Ltd.\u00a0<\/i><\/b><\/p>\n<p>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 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\u00a0Malaysia, the\u00a0USA,\u00a0Thailand,\u00a0China,\u00a0Indonesia,\u00a0Vietnam,\u00a0Japan, and\u00a0Europe, based on the business success in Korea. For more information, please visit\u00a0<a href=\"http:\/\/www.coway.com\/\" target=\"_blank\" rel=\"nofollow\">http:\/\/www.coway.com\/<\/a>\u00a0or<a href=\"http:\/\/newsroom.coway.com\/\" target=\"_blank\" rel=\"nofollow\">\u00a0http:\/\/newsroom.coway.com<\/a>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">  <\/div>\n<p><!-- \/wp:html --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-18006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/18006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18006"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/18006\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}