(2016 Restarting Company) Elpowertech - Strengthening Portfolio. Improving Management... Targeting Sales of 100 Billion Won > Press release

Elpowertech (CEO Choi Seong-kyu, pictured), a specialized transformer manufacturer, plans to lay the foundation for future growth by strengthening its product portfolio and improving management this year. The ultimate goal is to achieve sales of 100 billion won within 5 years.

It is not an impossible story at all. Elpowertech, which celebrated its 15th anniversary this year, has recently shown the fastest growth in the industry despite its short history.

Elpowertech, which showed potential by entering the notoriously difficult Japanese market with a large-capacity inverter special transformer (VVVF; Variable Voltage Variable Frequency) in 2006, transformed into an export-oriented company by winning the $5 million export tower award in 2011. With just one transformer, it is leading the way in earning foreign currency in overseas markets such as Japan, Southeast Asia, and the Middle East. Thanks to these achievements, CEO Choi Seong-kyu was selected as the ‘Innovation Leader Leading Korea’ in 2011. Elpowertech has been a company with sales in the 10 billion won range since 2012, and last year, it achieved sales in the 20 billion won range, doubling its growth. In particular, it has been consistently successful in winning orders in the irrigation market, including KEPCO, and is receiving favorable evaluations in the industry in terms of credit rating (BBB-) and cash payment ability (CR-2).

First, this year's target sales are 30 billion won. After that, the goal is to grow to 60 billion won in 2017 and 100 billion won in 2019.

CEO Choi Seong-kyu said, "The global economy has entered a low-growth trend, and at the same time, the domestic market is also facing a difficult situation due to extreme price competition caused by oversupply." He explained, "In this situation, if we fail to develop niche markets and overseas markets, we will inevitably be eliminated. Elpowertech's strength and future survival strategy is that we entered and settled in overseas markets early." With the possibility of prolonged global low growth, Elpowertech is focusing on strengthening its management in preparation for the future.

To this end, Elpowertech is diversifying its product line this year. It plans to add the switch business to its existing transformer and control panel business. It is preparing to leap forward as a comprehensive heavy electric equipment company by completing its distribution line portfolio.

In addition, it plans to focus on improving product quality and strengthening reliability in order to achieve solid growth by declaring four major visions: sustainable management, customer satisfaction, securing technological prowess, and expanding market share.

CEO Choi said, “We will readjust our business portfolio, which was previously 30% domestic, 30% Japanese, and 40% third-party overseas markets, to 30% civilian, 30% public, and 40% exports,” and added, “We will establish ourselves as an industry leader by achieving sales of KRW 100 billion in 2020, our 20th anniversary.”

[This post was copied from Press Release (Korea) on 2022-08-25 11:21:28 by the top administrator]