The KOSDAQ-listed automotive parts specialist The Cube N (formerly CBI) announced on the 14th that it has recorded a profit for 14 consecutive quarters since the first quarter of 2022.
According to the Financial Supervisory Service's electronic disclosure system, The Cube N recorded a cumulative revenue of 9.3 billion won and an operating profit of 1.4 billion won on a standalone basis for the first half of this year. The company explained that although it saw a year-on-year decline of 8.5% and 16.9% in revenue and operating profit respectively due to the global economic downturn and reduced customer demand, profitability has improved.
Despite the pressure of rising manufacturing costs, the background for maintaining stable profits is attributed to ▲improved production process efficiency ▲flexible factory operation ▲cost-cutting efforts. In particular, the automotive division, centered on foundry work, has a high proportion of skilled labor, making efficiency improvements easier, and the company achieved energy cost savings through an operational strategy that avoided high electricity price hours.
A representative of The Cube N noted, "Amid increasing uncertainties in the domestic and international business environment, we are continuing to achieve stable management results through benefits from exchange rates and cost-cutting efforts, and we expect positive results and new achievements this year as we are also preparing for commercial production and merger plans in the new mineral resources (tungsten) sector."
The Cube N plans to continue its strategy of securing stable revenue even amidst economic recession and weak demand through company-wide cost-cutting activities and establishing a flexible and resilient working system.