Kolon Co. said on the 4th that last year's operating profit swung to a surplus of 63.8 billion won from a loss a year earlier. Revenue for the same period fell 1.2% to 5.8511 trillion won.
The company said, "Revenue decreased due to a base effect from the completion of Kolon Global's large-scale projects," and noted, "Operating profit improved on strong imported car sales at Kolon Mobility Group."
Last year's net loss was 344.3 billion won, turning to a deficit. The company cited the impact of proactively recognizing expenses for Kolon Global's potential risks and a larger derivative valuation loss related to convertible bonds due to a rise in Kolon TissueGene's share price.
By affiliate, the manufacturing unit of Kolon Industries plans to recover performance through business growth centered on new markets. The fashion unit will continue to strengthen global competitiveness through management streamlining and operational advancement.
Kolon Global, despite a slump in the construction market, booked 3.0572 trillion won in orders, including 1.6586 trillion won in non-residential contracts. By proactively recognizing expenses, it removed potential risks and laid the groundwork for a return to normalized results.
Kolon Mobility Group plans to enhance both growth and profitability by expanding new businesses such as used-car sales, centered on its own mobility service brand "702."