16-Fold Increase Year-on-Year, Profitable for Two Consecutive Years
Revenue of KRW 1.9084 Trillion
Hanssem Co., Ltd. (CEO Kim Yu-jin), a comprehensive home interior specialist, disclosed in its preliminary Q4 2024 earnings announcement (consolidated basis) that it recorded revenue of KRW 490.4 billion and operating profit of KRW 3.9 billion. For the full year 2024, the company posted revenue of KRW 1.9084 trillion and operating profit of KRW 31.2 billion.
In 2024, Hanssem's revenue fell 3.0% year-on-year, weighed down by the downturn in the construction and real estate markets and the delayed recovery in consumer sentiment. However, operating profit surged roughly 16-fold (1,504.3%), marking a substantial improvement. This is attributed to supply chain optimization and continued improvement in the cost ratio, which drove the rise in operating profit. In particular, the B2C segment—where Hanssem has been demonstrating increasing strength—showed robust growth in the fourth quarter, turning revenue to a 4.2% increase year-on-year. On this basis, the company expects qualitative and quantitative growth to strike a balance in 2025, with profitability and revenue scale rising in tandem. With core product groups such as kitchens, storage, and beds returning to an upward trend, expectations for improved performance are rising even further. In addition, the home furnishing division grew 9.6% year-on-year in the fourth quarter, driving B2C performance. This is attributed to the effectiveness of an aggressive marketing strategy leveraging seasonal campaigns, including Hanssem's flagship promotion, 'Ssaem Festa.'
Industry observers believe that, having succeeded in boosting profitability through structural improvements in its cost ratio, Hanssem will see growth in its B2C segment further solidify its earnings improvement. If a structure in which revenue growth and profitability improvement are achieved simultaneously takes hold, they forecast, Hanssem could lay the groundwork for mid- to long-term growth.