Woori Technology has increased its contract value for supplying a screen door system for the Tel Aviv railway in Israel by approximately 588 million won. The revised total contract amount is 9,172.52 million won, accounting for 18.53% of its recent revenue.

On the 19th, Woori Technology announced through a correction disclosure on a single sale and supply contract that the contract value for supplying the screen door system for the Tel Aviv Green Line in Israel was changed from the previous 8,584.88 million won to 9,172.52 million won. With this correction, the contract amount increased by 587.64 million won, an increase of approximately 6.84% compared to the original contract value.

Due to the increase in the contract amount, the ratio to recent revenue also rose by 1.18 percentage points, from 17.35% to 18.53%. The recent revenue used as the comparison basis is 49,494.57 million won based on the consolidated financial statements as of the end of 2022.

• ■ Contract Overview
• Contract counterparty: Alstom Israel
• Supply region: Israel
• Contract details: Supply of platform screen door systems for the Tel Aviv Green Line
• Contract period: Signed on November 13, 2023, ending October 31, 2028 (no change to the contract period in this correction)
• Supply method: In-house production
• Contract conditions: Not a conditional contract, with no contract deposit or advance payment

The disclosure stated that the contract amount was calculated using the dollar exchange rate of 1,316 won, based on the Seoul Foreign Exchange Brokerage as of November 13, 2023.

This disclosure is a change to the value of a previously signed supply contract and is distinct from the signing of a new contract. Key conditions such as the contract counterparty, supply region, and contract end date were maintained.

The increase in the contract amount is noteworthy in that it represents an expansion of the existing order scale. However, the correction disclosure did not separately present the specific background for the change in the contract amount or the scale of revenue recognition by year. Therefore, the timing and scale at which the increased contract amount is reflected in actual performance should be confirmed based on future project progress and accounting revenue recognition standards.

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