Airane, Korea's sole gas separation membrane solutions provider, reported preliminary operating profit of 3.4 billion won ($2.4 million) for 2024, an 82% increase from the previous year, according to a regulatory filing on the 9th.
Revenue for the same period rose 15% year-over-year to 28.1 billion won. Net profit climbed 58% to 3.1 billion won.
The strong results stem from simultaneous growth in both core business operations and new business segments.
Airane has established a stable revenue base centered on gas separation membrane module sales. New growth areas including biogas and carbon capture, utilization and storage (CCUS) are also generating steady revenue and profits. These new businesses leverage existing gas separation membrane technology, with additional orders increasing as the company accumulates demonstration and delivery experience.
Sustained revenue expansion has translated into improved profitability.
"Our business structure improved as membrane module sales expanded their revenue share, and the resulting operating leverage effect has materialized in earnest," an Airane spokesperson said. "Combined with the elimination of one-time costs from the previous year, operating profit increased substantially."
The company plans to maintain stable growth in its core business centered on gas separation membrane technology this year.
Simultaneously, Airane will accelerate expansion of membrane application businesses, primarily in overseas markets. The company intends to increase project participation in Europe and Southeast Asia, focusing on businesses with accumulated demonstration and delivery experience such as biogas and CCUS, while actively pursuing growth opportunities through global customers and partnerships.
"2025 marks a phase where our core business continues high growth while new businesses including CCUS and biogas enter the stage of generating tangible results," said Ha Sung-yong, CEO of Airane. "In 2026, we will expand demonstrations and references primarily in overseas markets and broaden the application scope of gas separation membrane technology, which is essential across industrial processes."