[Featured Stock] SW Achieves Record High Operating Profit... Expected to Supply Building Materials and Technology to Neom City
SWY is showing strong performance. The stock price appears to be influenced by expectations that the company will provide high-quality sandwich panels and Polycamhause modular construction technology for the NEOM City project in Saudi Arabia, in addition to achieving solid results in the first half of the year.
As of 2:52 PM on the 23rd, SWY was trading at 4,510 KRW, up 15.20% (595 KRW) compared to the previous trading day.
SWY recorded consolidated sales of 273 billion KRW and operating profit of 13.3 billion KRW in the first half of this year, representing increases of 2% and 67% respectively compared to the same period last year. Sales of glass wool panels, a representative non-combustible product, increased by 33.9% compared to the same period last year, and sales of deck plates also grew by 30.9%, driving the growth.
An SWY representative explained, "Thanks to the unprecedented surge in demand for fire-resistant glass wool panels following the revision of the Building Act since the end of last year, we were able to exceed sales and profit targets. In the deck plate division of our subsidiary SW Steel Tech, operating profit margin significantly improved from 5% to 11% this year by diversifying raw material suppliers and reducing costs."
SWY has the largest production capacity ensuring stable raw material supply, and holds numerous new product technologies related to fire-resistant products, further strengthening its market dominance.
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SWY announced that it has completed vendor registration for the NEOM City project in Saudi Arabia. The company plans to provide sandwich panels and Polycamhause modular construction technology for the NEOM City project, which is estimated to be worth 130 trillion KRW. SWY made its first visit to the project in April and held the initial meeting for the NEOM City project business. A second visit is scheduled for the 28th to meet with the Saudi Arabian government.
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