Boiler manufacturer Kyungdong Navien(009450) sharply increased its second-quarter operating profit on strong North American sales and a tariff refund.
Kyungdong Navien said on the 11th that its operating profit for the second quarter of 2026 was 84.2 billion won, up 64.6% from a year earlier. Revenue for the same period fell 1.0% to 388.2 billion won.
The increase in operating profit was driven by steady sales in global markets, including North America, and the effect of a tariff refund. In particular, continued sales of key products such as condensing boilers and water heaters, centered on the U.S. market, contributed to improved profitability.
Revenue edged down from a year earlier. The company said a base effect from a temporary increase in sales ahead of last year's tariff taking full effect had an impact.
Kyungdong Navien is focusing on global markets, including North America, as key growth pillars beyond Korea. In particular, it is expanding its presence in the local market by selling condensing boilers and water heaters in the U.S.