Dongwon Systems Q3 Operating Profit Rises 18.9%... "Export Expansion, Subsidiary Growth"
Third-quarter revenue rises 13.1% to KRW 403.1 billion
Dongwon Systems said on Nov. 2 that, on a consolidated basis, its revenue for the third quarter of this year rose 13.1% year on year to 403.1 billion won, while operating profit increased 18.9% to 24 billion won. Net profit fell 65.7% to 5.3 billion won.
Dongwon Systems said that expanded exports of high-value-added products, including eco-friendly packaging materials, and growth at its overseas subsidiaries drove the strong results. The company has developed recyclable, single-material packaging based on polyethylene (PE) and exports it to global markets, including North America, Asia and Africa.
Its Vietnamese affiliate, TTP (Tan Tien Packaging), is also expanding its flexible packaging business in Vietnam and exports to global consumer goods companies.
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A Dongwon Systems official said, "We will proactively respond to Europe's Packaging and Packaging Waste Regulation (PPWR) to expand our customer base in Europe and other regions, while also working to secure future growth engines, including secondary battery materials and advanced films."
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