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(LEAD) Listed firms' on-year net profit hits all-time high

All News 14:52 April 04, 2022

(ATTN: RECASTS headline, lead; ADDS info in paras 4, 6, 8-10)
By Chung Joo-won

SEOUL, April 4 (Yonhap) -- The net profits of listed firms on South Korea's main bourse hit an all-time high last year, expanding 160.56 percent on-year despite the pandemic, the bourse operator said Monday.

The consolidated net profit of 595 firms listed on the benchmark KOSPI totaled 156.6 trillion won (US$128.6 billion) in 2021, up from 60.1 trillion won the previous year, according to the data compiled by the Korea Exchange (KRX).

A total of 595 out of 676 listed companies submitted their consolidated financial statements for the fiscal year of 2021 that ends in December.

(LEAD) Listed firms' on-year net profit hits all-time high - 1

Their combined operating profits and sales also came to a fresh record. Operating profits rose 73.59 percent on-year to 184 trillion won, and sales increased by 19.82 percent to 2,299 trillion won during the cited period, according to the KRX data.

Sales increased in all 17 business sectors classified by the KRX. Operating profit increased in all sectors but two: electricity and gas, as well as construction. Net profit grew in all sectors, except for electricity and gas, as well as medicine.

The net profit margin, or net profit over total sales, also reached 6.81, steeply higher than 3.24 in 2020 and 2.61 in 2019. The ratio of operating gain to revenue also stood at 8, almost reaching the pre-pandemic levels.

A total of 478 firms, or 80.34 percent, were in the black, up from 415 a year earlier. A total of 117 firms, or 19.66 percent, suffered losses, down from 180 firms a year ago.

(LEAD) Listed firms' on-year net profit hits all-time high - 2

The secondary KOSDAQ-listed firms also posted record gains in their net profits and sales in 2021, the KRX data showed.

The combined annual net income of 1,159 companies, excluding 111 that did not or were not required to submit financial statements, came to an all-time high of 8.45 trillion won on a consolidated basis, up 170.96 percent from the previous year.

Sales increased by 18.28 percent to record 218.53 trillion won, during the cited period. Operating profits rose 39.66 percent on-year to 16.65 trillion won.

A total of 714 firms, or 68.13 percent, were in the black, while 334 firms posted net losses.


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