Overseas Sales Surpass KRW 600 Billion for the First Time... Samyang Foods' Q2 Operating Profit Up 46.7%

Sales up 39.3% year-on-year
Strong, balanced growth in global markets including the Americas, China, and Europe
Achieved over 20% operating margin for six consecutive quarters

Samyang Foods achieved strong performance in the second quarter of this year, as its Buldak brand continued to gain popularity overseas, particularly in Europe, as well as in the Americas and China.

On August 14, Samyang Foods announced that its consolidated operating profit for the second quarter reached KRW 176.2 billion, a 46.7% increase year-on-year. In the same period, sales grew by 39.3% to KRW 770.3 billion.

Samyang Foods Miryang Factory. Courtesy of Samyang Foods

Notably, the company achieved record-high overseas sales for a single quarter, surpassing KRW 600 billion for the first time. Overseas sales in the second quarter grew by 46.7% year-on-year to KRW 645.8 billion.

The company explained that the streamlining of global distribution networks and improvements in the efficiency of domestic production facilities, such as the Miryang factory, supported global demand. Its flagship Buldak brand demonstrated once again its growth in demand in the global market, surpassing a cumulative sales volume of 10 billion units as of the end of May. In the second quarter, overseas sales accounted for 83.84% of Samyang Foods’ total revenue.

In detail, the European market saw sales climb by 61% year-on-year to KRW 80.6 billion, bolstered by robust sales in Germany and France and the expansion of distribution to additional countries in the region. In the Americas, sales increased by 54% year-on-year to KRW 203.6 billion, driven by the expansion of both mainstream and ethnic channel distribution in the United States and growth in Central America—including Mexico. Meanwhile, sales in China surged by 44% year-on-year to KRW 181 billion, attributed to the enlargement of the sales base through channels such as snacks.

Despite uncertainties in export conditions and difficulties in securing raw materials and ingredients, Samyang Foods achieved an operating margin of 22.9% in the second quarter. The company has maintained an operating margin in the 20% range for six consecutive quarters.

For the first half of the year, Samyang Foods recorded cumulative sales of KRW 1.4847 trillion and operating profit of KRW 353.3 billion, up 37.2% and 39.0%, respectively, compared to the same period last year.

A representative of Samyang Foods stated, "Despite global economic uncertainties, we solidified a growth structure centered on our overseas business and delivered robust results. We will continue to reinforce the role of our overseas subsidiaries and strengthen both domestic and international production infrastructure to support global demand and sustain our growth."

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