Coway announced its financial results for the first quarter of 2025. Revenue in the quarter reached $840 million, a 17.3% increase year-over-year. Operating profit in the quarter grew 9% year-over-year to $151 million.
The company’s domestic business reported Q1 revenue of $485 million, a 10.8% increase from the first quarter of 2024. The company attributed this growth to a 63% year-over-year growth in net rental account additions, which reached 103,000, and the strong sales of new product launches.
Overseas subsidiaries revenue reached $319 million, a 25.8% increase from the same quarter of 2024. Malaysia stood out among this segment with $235 million in revenue, representing 22% year-over-year growth, while the US and Thailand reported steady year-over-year growth of 33.7% and 43.9% respectively.
“Coway achieved solid results across both domestic and global markets,” said Soon Tae Kim, Coway Chief Financial Officer. “These achievements were driven by our continued rollout of customer-centric, innovative new products, as well as the strengthening of our strategic marketing activities. In the second quarter, we will continue to remain agile within an ever-changing market while enhancing our products and service competitiveness and accelerating the expansion of our elder care business, Coway Life Solution, in order to ensure stable, long-term growth.”
