- In 2021, Coway reported Q4 revenue of KRW 945.9 billion (+9.7% YoY) and annual revenue of KRW 3,664.3 billion (+13.2% YoY)
- Overseas subsidiaries fourth-quarter revenue came in at KRW 301.6 billion (+10.2% YoY) with annual revenue of KRW 1,215.1 billion (+35.6% YoY)
- In 2022, the company continues to evolve its innovations in product, service, and design
Coway Co., Ltd., “The Best Life Solution Company,” announced its financial results for the fourth quarter and fiscal year 2021.
"2021's solid performance was made possible by our innovations in product, service, and design," says Jangwon Seo, co-CEO of Coway. "This year, we'll continue to evolve the innovations and successes we achieved last year.”
Coway reported the following earnings:
- Fourth-quarter revenue: KRW 945.9 billion (+9.7% YoY)
- Fourth-quarter operating profit: KRW 139.2 billion (+7.3% YoY)
- Fourth-quarter net profit: KRW 87.4 billion (+29.6% YoY)
- Annual revenue: KRW 3,664.3 billion (+13.2% YoY)
- Annual operating profit: KRW 640.2 billion (+5.6% YoY)
- Annual net profit: KRW 465.5 billion (+15.0% YoY)
The reported figures are taken from the consolidated K-IFRS (International Financial Reporting Standards) statement.
In FY2021, domestic environmental home appliance sales saw a consolidated revenue of KRW 2,245.3 billion (+5.5% YoY), driven by premium design home appliances like the ‘Noble Collection’ and the Icon Water Purifier. The number of accounts in Korea reached a total of 6.5 million.
Overseas subsidiaries reported KRW 1,215.1 billion revenue for the full year, up 35.6% from last year. Leading growth drivers, the Malaysia and USA subsidiaries, grew their revenue to KRW 980.2 billion (+38.3% YoY) and KRW 169.6 billion (+11.3% YoY), respectively. In total, the number of overseas accounts has increased by 33.5% and now sits at 2.58 million.
Across both global and domestic markets, the total number of accounts now stands at 9.08 million.
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. 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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