Coway reported strong growth in the first quarter of 2026, driven by increased sales of its core products, including water purifiers and BEREX beds. The company attributed its performance to a rise in domestic rental accounts and stable sales growth from overseas subsidiaries.
On May 8, Coway announced that its consolidated revenue for the first quarter reached 1.33 trillion won, with an operating profit of 250.9 billion won. This marks a year-on-year increase of 13.2% in revenue and 18.8% in operating profit.
Domestic sales amounted to 742.8 billion won, up 9.5% from the previous year. The launch of new products like the Icon Water Purifier 3 and the BEREX Pebble Chair 2, along with the introduction of the home healthcare brand Terasol, contributed to this growth.
The 'Coway Festa' promotion, which began in late February, boosted new rental sales across all product lines. Notably, new sales of BEREX beds surged by over 30% compared to the same period last year. The net increase in domestic rental accounts reached 188,000, an 81.8% rise year-on-year.
Industry analysts note that Coway is expanding its business focus from water purifiers to include mattresses and massage chairs, enhancing the contribution of BEREX to its overall performance.
Overseas, Coway's subsidiaries also experienced growth, with first-quarter revenue reaching 537 billion won, a 20.2% increase from the previous year. The Malaysian subsidiary reported 406.2 billion won, up 23.5%, while the Thai subsidiary saw a 29.3% increase to 55.4 billion won. The Indonesian subsidiary recorded 12.6 billion won, growing by 14.7%. However, the U.S. subsidiary's revenue fell by 4.1% to 57.5 billion won.
Kim Soon-tae, Coway's CFO, stated, "We have solidified our market dominance in the first quarter with upgraded new products that continue the legacy of our bestsellers. With balanced sales performance both domestically and internationally, we aim to maintain growth in the second quarter through innovative product launches and enhanced online and offline marketing strategies that support profitability."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.