Aekyung Industrial's Q3 Revenue Rises, but Posts Operating Loss; Cosmetics Revenue Down 22% QoQ

Revenue of KRW 190.4 billion, up 12.5% year over year but down 2.0% from the previous quarter
Household goods revenue hit a quarterly record of KRW 127.8 billion... Operating loss of KRW 3.3 billion recorded

Aekyung Industrial recorded an operating loss in the third quarter despite achieving top-line growth. Revenue from its household goods business reached a quarterly record, but a sequential decline in cosmetics revenue left overall revenue below the previous quarter's level.

According to the Financial Supervisory Service's electronic disclosure system on Nov. 3, Aekyung Industrial posted consolidated third-quarter revenue of KRW 190.4 billion and an operating loss of KRW 3.3 billion.

Revenue rose 12.5% from KRW 169.3 billion in the same period last year, but fell 2.0% from KRW 194.2 billion in the previous quarter. The company swung to an operating loss from an operating profit of KRW 7.3 billion a year earlier. It had also posted an operating profit of KRW 4.5 billion in the previous quarter, but turned to a loss this quarter.

By business segment, household goods drove revenue growth. Third-quarter revenue came to KRW 127.8 billion, up 11.5% year over year. It also rose 10.9% from KRW 115.2 billion in the previous quarter, marking a quarterly record. The increase was driven by a 13.1% rise in personal care revenue, including hair care and body care.

By contrast, cosmetics revenue declined from the previous quarter. Third-quarter revenue was KRW 58.7 billion, up 13.9% year over year but down 22.0% from KRW 75.3 billion in the previous quarter. The company said overseas revenue continued to grow at a double-digit rate.

By region, Aekyung Industrial said its flagship brand AGE20'S continued to recover in China following a restructuring of its business, while in the United States it worked to expand its distribution network through a launch at Olive Young and participation in local trade shows. In Japan, it took part in the Qoo10 Mega Wari event.

Cumulative revenue for the first three quarters was KRW 543.3 billion, up 10.5% year over year. The company plans to continue diversifying its global markets, strengthening the competitiveness of its core brands, and expanding its portfolio around promising categories.

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