Coway Third Quarter Revenue Rises 9.2 Percent to 1.10 Trillion Won as Rentals Top 10 Million
SEOUL, South Korea, November 8, 2024 --
Coway reported third-quarter 2024 consolidated revenue of 1,100.3 billion won, up 9.2 percent from a year earlier, and operating profit of 207.1 billion won, up 6.0 percent. Cumulative 2024 revenue reached 3,184.4 billion won, up 7.5 percent, with operating profit of 612.0 billion won, up 8.3 percent.
Chief Financial Officer Soon Tae Kim said rental accounts exceeded 10 million on strong domestic and international sales and stable contract retention. Domestic revenue rose 9.9 percent to 660.8 billion won, helped by the Icon Ice water purifier and BEREX mattresses and massage chairs, with a net increase of 102,000 domestic rental accounts in the quarter.
Overseas subsidiaries generated 391.5 billion won of revenue, up 7.8 percent, led by Malaysia at 293.4 billion won, up 8.8 percent, and Thailand at 32.5 billion won, up 8.9 percent. Kim said the company will keep prioritizing research, product innovation and digitalization.
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