Coway Co., Ltd. released its third quarter 2023 financial results, reporting third quarter operating profit of $148.9 million, an 18.3% year-over-year increase, and third quarter revenue of $768 million, a 3.9% increase from the same period last year.
Domestic health appliance sales revenue grew 5.2% over the previous year’s quarter to $458 million, which the company primarily attributes to an increase in product sales across categories.
“We’re delighted to report another stable quarter, thanks in part to the expansion of our successful sleep and wellness brand, BEREX, as well as our strategic investments in R&D, IT, and marketing,” said Soon Tae Kim, Coway Chief Financial Officer. “Looking ahead to the rest of the year and beyond, we remain focused on enhancing the competitiveness of our products and services. We’re dedicated to ensuring BEREX continues playing a pivotal role in our future growth.”
