Dongwon Group's business holding company, Dongwon Industries, reported that its consolidated operating profit for the previous year was provisionally estimated at 503.9 billion won, an increase of 8.4% compared to the same period last year on the 11th. Sales during the same period amounted to 8.9464 trillion won, a decrease of 0.02% from the previous year.
A representative from Dongwon Industries noted, "Dongwon F&B, which encompasses food, catering, and seasoning, has grown steadily, and the export expansion strategy of Dongwon Systems, a packaging and materials subsidiary, has significantly increased operating profit." However, sales slightly decreased due to the impact of lower fish prices and a sluggish real estate market in the fisheries and construction institutional sectors.
The previous year's performance was led by Dongwon F&B. Its subsidiary, Dongwon Home Food, showed robust growth in the group meal and seasoning businesses. Dongwon F&B's strategic items, including tuna extract, holiday gift sets, and home meal replacements (HMR), also grew steadily. The consolidated sales and operating profit for Dongwon F&B last year were 4.4836 trillion won and 183.5 billion won, respectively, representing increases of 2.8% and 10.0% compared to the previous year.
The packaging business of Dongwon Systems, a packaging and materials subsidiary, also contributed to performance improvement. In particular, thanks to exports focused on high-value-added products such as pet food, retort pouches, and food cans, operating profit grew by more than double digits. The consolidated sales for the previous year rose 4.5% to 1.3343 trillion won, while operating profit increased by 13.7% to 91.9 billion won.
On a standalone basis, Dongwon Industries reported that its sales for the previous year were 1.0794 trillion won, a decrease of 1.0% from the previous year, while operating profit reached 128.6 billion won, an increase of 1.4%. Production increased due to favorable catches, but total sales slightly declined due to falling fish prices. Last year, Dongwon Industries' consolidated net profit was 115.8 billion won, a decrease of 57.4% compared to the same period last year. This was due to a settlement payment of over 210 billion won related to a civil lawsuit involving StarKist, Dongwon Industries' U.S. subsidiary. StarKist completely resolved the tuna price-fixing dispute, which had lasted for over a decade, through a civil settlement last year.
A representative from Dongwon Group stated, "In the future, we will strengthen the competitiveness of our core businesses in fisheries, food, materials, and logistics, while also focusing on establishing new businesses in secondary battery materials and smart ports."