Daeyang Metal Achieves 3 Billion Won Operating Profit in First Half, Up 16% Year-on-Year

Daeyang Metal exceeded an operating profit of 3 billion won in the first half of this year, continuing its growth trajectory.

According to the electronic disclosure system (DART) of the Financial Supervisory Service on the 18th, Daeyang Metal's standalone sales in the first half of this year reached 107,998 million won, maintaining a similar level compared to the same period last year (111.3 billion won). Operating profit stood at 3,012 million won, up approximately 16% from the same period last year (2,597 million won).

Second quarter sales amounted to 52 billion won, representing a slight decrease compared to the previous quarter. However, operating profit increased by 82% to 1,946 million won.

The net profit for the period turned to a deficit, totaling 335 million won. This was affected by approximately 4.3 billion won in non-recurring losses, including 2.4 billion won in losses from the valuation of convertible bond (CB) derivatives and 1.9 billion won in losses from the valuation of investment securities in Blue Industrial Development (formerly Youngpoong Paper Company).

A representative from Daeyang Metal stated, "Although net profit declined due to one-time selling, general, and administrative expenses associated with capital raising in the first half of this year, the continued efforts to improve cost structures are enhancing the quality of our operations."

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