#South Korea #Seoul #Coway #BEREX #Best Life Solution

Coway's Financial Highlights for Q1 FY2025

Coway Co., Ltd., known as the "Best Life Solution Company," has released its financial results for the first quarter of FY2025, reflecting robust growth both in Korea and internationally. CFO Soon Tae Kim emphasized the company's strategic focus, saying, "Coway achieved solid results across both domestic and global markets." This success can be attributed to the introduction of customer-oriented, innovative products and enhanced marketing strategies.

Key Financial Metrics

• - First-Quarter Revenue: KRW 1,174.9 billion, an increase of 17.3% year-on-year.
• - Operating Profit: KRW 211.2 billion, growing by 9.0% compared to the previous year.

These figures demonstrate Coway's strong performance driven by its commitment to innovation and customer satisfaction. The consolidated results follow the K-IFRS (International Financial Reporting Standards) guidelines.

Domestic Performance

The domestic sector has shown a remarkable increase in revenue, reaching KRW 678.6 billion in Q1, a 10.8% growth from the same period last year. This growth was propelled by the addition of 103,000 new rental accounts, marking a year-on-year rise of 63.0%. Additionally, strong sales from key product launches such as the Looloo Double Care Bidet 2 and the NOBLE 2.0 Air Purifier series contributed to this success. Popular devices such as the Icon Water Purifier series and the BEREX mattresses and massage chairs also continued to perform well in the market.

International Expansion

On the global front, Coway's overseas subsidiaries reported a revenue of KRW 446.7 billion, reflecting a 25.8% increase year-on-year. Notably, the Malaysian subsidiary achieved KRW 328.9 billion in revenue, a 22% rise. Similarly, growth in the United States and Thailand was substantial, with increases of 33.7% and 43.9% year-on-year, translating to revenues of KRW 60.0 billion and KRW 42.9 billion, respectively.

Future Plans

Looking ahead, Coway has announced a plan to repurchase KRW 110 billion worth of treasury stock in line with its Corporate Value-Up Plan. This move is aimed at boosting shareholder value and may include stock cancellation.

Moreover, Coway is set to strengthen its elder care initiatives with the launch of the Coway Life Solution platform, focusing on offering personalized care solutions catering to different life stages. In a rapidly changing market landscape, the company will emphasize agility while continuously enhancing product competitiveness and accelerating the expansion of its services.

About Coway Co., Ltd.

Founded in 1989 in South Korea, Coway specializes in innovative home appliances aimed at enhancing the quality of life through environmental solutions. The company is recognized for its advanced research, engineering, and development capabilities. With its award-winning products, Coway has established a significant market presence, characterized by customer satisfaction and brand loyalty. In 2025, Coway has further diversified its offerings with the introduction of Coway Life Solution, targeting the elder care segment.

For more detailed information about Coway's financial performance and business strategies, visit Coway's Investor Relations page.