Simmons said on the 30th that last year's sales were 323.9 billion won, down 2% from a year earlier. Operating profit was 40.5 billion won, down 23% from the previous year.
According to Simmons that day, the decline in operating profit was attributed to higher prices of imported raw and subsidiary materials, the impact of a strong dollar, and rising labor costs. It noted that, as the company positions itself as a premium bed maker, the relatively high share of high-end imported raw and subsidiary materials affected operating profit.
Current R&D expenses, a quality innovation indicator, were 1.51 billion won last year, up 21% from a year earlier. Donations also rose 19% to 1.77 billion won. Labor costs increased 10% from the previous year to 42.8 billion won.
Simmons Bed plans to focus on quality this year as well, when external conditions are expected to continue to deteriorate, to solidify its position in the premium market.
A Simmons official said, "Simmons will go beyond simply selling beds to deliver the energy of a healthy life to the public," adding, "As a bed-specialized corporations focused on beds and a sleep-specialized brand, we will uphold the essence of our business."