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Taihan 1Q Performance Report: Operating Profit Increases by 50% YoY to 13.3 million USD
공유하기Taihan 1Q Performance Report: Operating Profit Increases by 50% YoY to 13.3 million USD
Taihan announced its first-quarter financial results, reporting a significant increase in operating profit. According to the consolidated financial statements, the company posted sales around 530.6 million USD and an operating profit of Around 13.3 million USD in Q1 2023. Compared to the same period last year, this marks a 19% growth in sales, amounting to Around 444.2 million USD. Notably, the operating profit saw a substantial 50% increase from Around 8.9 million USD. in the previous year.
The first quarter of 2023 is a noteworthy period for Taihan as it marks the first time that the company's sales have surpassed Around 527.3 million USD since Q1 of 2011; a span of 12 years. Additionally, for the first time since 2011, the operating profit has exceeded Around 113 million USD. Given trends in the electric wire industry, where performance tends to ramp up in the second half of the year, this upward trajectory is expected to persist.
The boost in the company's performance can be attributed to several key factors, including increased sales as a result of a high order backlog, securing new orders, and improving the performance of overseas subsidiaries.
