Coway Announces Financial Results for Q1 FY2025
SEOUL, South Korea, May 9, 2025 /PRNewswire/ -- Coway Co., Ltd., the "Best Life Solution Company," today reported its financial results for the first quarter of 2025.
"Coway achieved solid results across both domestic and global markets," said Soon Tae Kim, Coway's Chief Financial Officer. "These achievements were driven by our continued rollout of customer-centric, innovative new products, as well as the strengthening of our strategic marketing activities. In the second quarter, we will continue to remain agile within an ever-changing market while enhancing our products and service competitiveness and accelerating the expansion of our elder care business, Coway Life Solution, in order to ensure stable, long-term growth."
Coway reported the following earnings:
- First-quarter revenue: KRW 1,174.9 billion (+17.3% YoY)
- First-quarter operating profit: KRW 211.2 billion (+9.0% YoY)
* The reported figures are taken from the consolidated K-IFRS (International Financial Reporting Standards) statement. |
Coway's domestic business recorded a first-quarter revenue of KRW 678.6 billion, marking a year-on-year increase of 10.8%. This growth was driven by a 63.0% year-on-year rise in net rental account additions, totaling 103,000 in Q1. It was also driven by the strong sales of such new product launches as the Looloo Double Care Bidet 2 and the NOBLE 2.0 Air Purifier series, as well as the continued popularity of key product lineups including the Icon Water Purifier series and the BEREX lineup of mattresses and massage chairs.
Coway's overseas subsidiaries posted a first-quarter revenue of KRW 446.7 billion, up 25.8% from the same period last year. The company's Malaysia subsidiary achieved an impressive KRW 328.9 billion in revenue, marking a 22% year-on-year increase, while the United States and Thailand subsidiaries also sustained steady growth, recording revenues of KRW 60.0 billion (+33.7% YoY) and KRW 42.9 billion (+43.9% YoY) respectively.
Coway also announced its plan to repurchase KRW 110 billion worth of treasury stock this year as part of its Corporate Value-Up Plan. The repurchased stock is expected to enhance shareholder value through actions such as cancellation.
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. BEREX, the company's sleep & wellness brand, aims to improve the quality of life 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, and Europe, based on the business success in Korea. In 2025, the company launched Coway Life Solution, a premium elder care platform offering personalized care solutions tailored to different life stages. For more information, please visit http://www.coway.com/ or http://newsroom.coway.com.
SOURCE Coway Co., Ltd.
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