Coway Fourth Quarter Revenue Rises 12 Percent to 1.13 Trillion Won; Nearly Doubles Dividend
SEOUL, South Korea, February 14, 2025 --
Coway reported fourth-quarter 2024 consolidated revenue of 1.1257 trillion won, up 12.1 percent from a year earlier, and operating profit of 183.4 billion won, up 10.4 percent. Full-year revenue reached 4.3101 trillion won, up 8.7 percent, with operating profit of 795.4 billion won, up 8.8 percent.
Domestic revenue rose 8.8 percent to 2.5817 trillion won on sales of water purifiers, air purifiers, bidets and the BEREX sleep and wellness brand. Overseas subsidiaries grew 8.0 percent to 1.5452 trillion won, led by Malaysia at 1.1584 trillion won, while the U.S. unit rose 4.4 percent and Thailand grew 24.3 percent.
Coway set a year-end cash dividend of 2,630 won per share, bringing the total payout to 189.1 billion won, up 93 percent from the prior year. Chief Executive Jangwon Seo said the company will accelerate its New Coway strategy, and the company said it would unveil a corporate value-up program raising its shareholder return ratio to 40 percent from 20 percent.
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