Coway, the South Korean leader in home wellness appliances, reported a consolidated operating profit of 211.2 billion KRW for the second quarter, marking an 8.8% increase compared to the same period last year. Sales also rose by 7.6% year-on-year to 1.0823 trillion KRW, while net profit surged by 43.9% to 154.2 billion KRW.
The company’s domestic business segment saw a significant boost, with sales climbing 11.1% to 655.7 billion KRW. This growth was largely attributed to the success of the ‘Icon Ice Water Purifier’ and increased rental sales of mattresses and massage chairs from its ‘BEREX’ sleep and healing care brand.
Internationally, Coway’s overseas subsidiaries generated 382.2 billion KRW in sales during the second quarter. The Malaysian subsidiary was a major contributor, reporting sales of 286.9 billion KRW, while the Thai subsidiary achieved sales of 28.7 billion KRW.
Coway’s CFO, Kim Soon-tae, credited the company’s strong performance to increased sales volumes of key products like the ice water purifiers and BEREX offerings. Looking ahead, Coway plans to reinforce its market leadership by focusing on technological and design innovations to sustain its growth trajectory.
The global shift towards health and wellness, accelerated by the COVID-19 pandemic, has boosted demand for products that improve home environments. Coway has effectively leveraged this trend, particularly in the domestic market, where products like the ‘Icon Ice Water Purifier’ and BEREX brand items have experienced substantial growth.
