"Profitability Improves Through Efficiency"... Binggrae's Q2 Operating Profit Up 160%

Sales Reach 442.1 Billion Won, Up 7.9%

Binggrae announced on August 14 that, on a consolidated basis, it recorded sales of 442.1 billion won and an operating profit of 69.7 billion won for the second quarter of this year (April to June), marking year-on-year increases of 7.9% and 159.9%, respectively.

The company stated that, despite the continued slump in domestic consumption, increased sales of frozen products due to the heatwave and strong exports to the United States, China, and Australia contributed to the growth in sales.

A Binggrae official explained, "Although rising costs—stemming from factors such as higher raw material prices and exchange rates due to global instability—have impacted the business, profitability improved significantly as a result of company-wide efforts to enhance operating efficiency following the merger with Haitai Ice Cream, better management of low-margin products, and further cost-saving measures across selling and administrative expenses."

Binggrae's cumulative sales for the first half of this year stood at 754.4 billion won, with operating profit at 83.5 billion won, up 5.1% and 107.2% year-on-year, respectively. By category, refrigerated products accounted for 285.3 billion won, or 37.8% of total sales, while frozen and other products made up 469.2 billion won, representing 62.2%.

Exports accounted for 15.9% of total sales in the first half of the year.

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