Dongwon F&B Surpasses 1 Trillion KRW in Q1 Sales for the First Time (Comprehensive)

Price Increase of Tuna Cans, Subsidiary Performance Improvement Effect

Dongwon F&B recorded an earnings surprise in the first quarter of this year, driven by the price increase of canned tuna and improved performance of its subsidiaries.

Dongwon F&B announced on the 3rd that its consolidated operating profit for the first quarter of this year reached 43.4 billion KRW, a 34.72% increase compared to the same period last year. During the same period, sales amounted to 1.0808 trillion KRW, up 14.01% year-on-year, and net profit rose 43.9% to 29.9 billion KRW.

This is the first time Dongwon F&B’s first-quarter sales have exceeded 1 trillion KRW. The company explained, "All divisions of Dongwon Home Food recorded steady growth in sales due to strong performance in group catering and business-to-business (B2B) transactions." It is also interpreted that the performance improved as a result of the price increase of all Dongwon Tuna products at the end of last year. Dongwon Farms, which operates the feed business, achieved high growth of over 50% year-on-year due to the discovery of new clients and increased sales volume from existing clients. Dear Food, responsible for the online business, also continuously expanded online food distribution, increasing sales by more than 20% compared to the same period last year.

Except for Dear Food, which saw a 500 million KRW decrease in operating profit compared to the same period last year, all business divisions recorded an upward trend. In particular, Dongwon Home Food’s operating profit increased by more than 4 billion KRW year-on-year as the company explained that cost burdens eased and sales grew significantly.

This content was produced with the assistance of AI translation services.