Hanssem Reports 2nd Quarter Operating Profit of 11.3 Billion Won, 400% Increase for 13 Consecutive Quarters of Profit

Hanssem (009240) recorded an operating profit of 11.3 billion won in the second quarter of 2023, continuing its profit streak for 13 consecutive quarters. Although sales decreased by 9.2% to 417.2 billion won compared to the same period last year, operating profit surged by 400%. Net profit fell to 4.8 billion won, an 85.2% decrease year-on-year. The rehouse segment saw a 13% increase in sales, driving performance improvement. Hanssem stated that sales of key product categories such as kitchens, baths, and storage showed strong performance due to increased demand for apartment transactions and renovations. In the home furnishing segment, sales of the storage furniture line 'Signature' increased by 12%, while sales of the Swive sofa series rose by 46%. In April, Hanssem introduced a sales management system in collaboration with Salesforce, and in June, launched a mobile customer-exclusive platform called 'Interior Planner'. The online Hanssem Mall's sales in the first half of the year increased by 20%, and offline stores are also undergoing renovations. Looking ahead to the second half of the year, the company anticipates external uncertainties such as housing market instability and rising raw material costs, and plans to expand its premium product lines and marketing strategies.