Dongwon Systems said on the 31st that its operating profit on a consolidation basis was tentatively tallied at 31.4 billion won in the second quarter. It rose 21.1% from the same period a year earlier.
Sales were 402.2 billion won, up 9.8% from a year earlier, and net profit was 20.2 billion won, up 27.5%.
Cumulative sales for the first half were 740 billion won, up 5.2% from the same period last year. Cumulative operating profit was 44.4 billion won, up 15.5%.
Dongwon Systems said the domestic business environment was challenging due to a weak won, higher global oil prices, and sluggish domestic demand, but overall results improved as overseas sales of high value-added products increased and performance at overseas subsidiaries grew.
In the materials sector, it targeted the North American, Asian, and African markets with its polyethylene (PE)-based recyclable eco-friendly packaging "Uni Material." As a result, exports in the materials sector increased by about 20% from the same period last year.
Vietnam affiliate TTP also expanded its customer base beyond the Vietnamese domestic market to North America, including the United States and Canada, increasing sales by about 20%.
A Dongwon Systems official said, "Even as uncertainty in raw material supply persisted, we boosted both sales and profitability by expanding exports of high value-added products," adding, "In the second half, we will continue to strengthen packaging exports and accelerate securing new growth engines such as secondary battery materials and advanced films."