1. Noroo Paint H1 2025 Performance: What Happened?

Noroo Paint reported revenue of KRW 396.5 billion (down 1.4% YoY), operating profit of KRW 14 billion (slightly decreased), and net income of KRW 5.7 billion (decreased) for H1 2025. Intensified competition in the paint market and a decline in the average selling price of some products are identified as the main causes for the revenue decrease.

2. Analyzing the Performance Drivers: Why These Results?

  • Positive Factors: Steady performance of core businesses such as architectural and industrial coatings, efficient cost management, continuous R&D investment, and a stable financial structure.
  • Negative Factors: Intensified market competition, vulnerability to fluctuations in downstream industries (construction, automotive, shipbuilding), and high sensitivity to raw material price and exchange rate volatility.

3. Impact on Investors: What Does This Mean for You?

Noroo Paint maintains its fundamentals through core business competitiveness and efficient management despite the challenging market environment. However, the declining sales and profitability trend and uncertainties surrounding external factors require caution for investment.

4. Investment Action Plan: What to Watch For?

Investors should closely monitor the recovery of downstream industries, raw material price and exchange rate fluctuations, new product launches, and R&D investment outcomes. Attention should also be paid to ESG management performance and changes in the global economy and geopolitical risks.