KOLON reported that its annual revenue for 2024 was tentatively calculated at 5.7693 trillion won and operating profit at 22.7 billion won as of the 11th. Revenue decreased by 2.1%, while operating profit decreased by 77.9%.
Net income increased by 740% to 129.3 billion won. This was due to the fair value and book value differences of equity generated as KOLON TissueGene, which was using the equity method, was consolidated as a subsidiary.
KOLON Industries, a subsidiary applying the equity method, saw an increase in revenue due to strong performance in the chemical institutional sector, but operating profit decreased due to the regular maintenance of aramid production facilities. This year, the company anticipates improving its performance through the expansion of aramid pulp and diversification of its product lineup by acquiring new customers.
KOLON GLOBAL, a subsidiary, experienced a slight increase in revenue due to its efforts to diversify its business portfolio, such as starting new non-residential construction projects in the industrial construction sector, but operating profit decreased due to rising construction costs. The company plans to continue improving its performance this year through a diverse business portfolio strategy, including public sector and non-residential contracts.
Kolon Mobility Group, a subsidiary, saw a decrease in both revenue and operating profit due to consumer contraction and continued weakening demand for electric vehicles. This year, the company plans to execute a strategy focused on enhancing brand management capabilities while expanding new services, including used car sales.