Coway Announces Financial Results for Q4 and FY2023

Coway reported the following earnings: Coway reported the following earnings: In FY2023, strong domestic home appliance sales were primarily attributed to strong performance in core product categories like water purifiers, as well as the successful market expansion and sales growth of the BEREX brand. The factors collectively contributed to revenue ofKRW 2,373.5 billion(+4.2% YoY). In 2023, Coway's overseas subsidiaries achieved an annual revenue ofKRW 1,430.7 billion, marking a 2...

Coway reported the following earnings:

In FY2023, strong domestic home appliance sales were primarily attributed to strong performance in core product categories like water purifiers, as well as the successful market expansion and sales growth of the BEREX brand. The factors collectively contributed to revenue of KRW 2,373.5 billion (+4.2% YoY).

In 2023, Coway's overseas subsidiaries achieved an annual revenue of KRW 1,430.7 billion, marking a 2.1% increase compared to the previous year. Notably, annual revenue from subsidiaries in the United States and Thailand showed remarkable growth, with a 2.8% and 27.6% increase, respectively, compared to the prior year, resulting in revenues of KRW 205.3 billion and KRW 101.1 billion.

For additional details about Coway's financial performance, please visit the company's Investor Relations page.

About Coway Co., Ltd.

Established in Korea in 1989, Coway, the "Best Life Solution Company," is a leading environmental home appliances company making people's lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. The company's most recent venture, the BEREX brand, aims to improve sleep and wellness through cutting-edge mattresses and massage chairs. Since being founded, Coway has become a leader in the environmental home appliances industry, with intensive research, engineering, development, and customer service. The company has proven dedication to innovation with award-winning products, home health expertise, unrivaled market share, customer satisfaction, and brand recognition. Coway continues to innovate by diversifying product lines and accelerating overseas business in Malaysia, the USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe, based on the business success in Korea. For more information, please visit http://www.coway.com/ or http://newsroom.coway.com.

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