COSMAX's Q3 Revenue Hits "Record High" at KRW 875.8 Billion; South Korean and Overseas Subsidiaries Grow Together

Revenue Up 50%, Operating Profit Up 95%
South Korean Subsidiary Revenue Hits KRW 616.1 Billion, Surpassing KRW 600 Billion for the First Time
Growth Across Subsidiaries in China, the United States, and Southeast Asia

COSMAX, a cosmetics original development manufacturing (ODM) company, set a new record for quarterly revenue in the third quarter. While its South Korean subsidiary led the growth, its subsidiaries in China, the United States, and Southeast Asia also continued to grow.

In a regulatory filing on the 11th, COSMAX said consolidated revenue for the third quarter rose 50% year over year to KRW 875.8 billion. Operating profit increased 95% to KRW 83.3 billion. The company posted its highest quarterly revenue on record despite the third quarter being a traditionally slow season for the cosmetics industry.

Cosmax's Pangyo headquarters. Cosmax

Revenue at the South Korean subsidiary rose 61% year over year to KRW 616.1 billion, surpassing KRW 600 billion in quarterly revenue for the first time. The increase was driven by higher orders as major clients expanded their online marketing and entered overseas distribution networks. Sales grew evenly across skincare and color cosmetics, while orders for high-margin products such as essences and mists also increased. Operating profit rose 97% to KRW 67.7 billion.

Revenue at the Chinese subsidiaries increased 27% to KRW 177 billion. The Shanghai subsidiary's growth was driven by increased orders from color cosmetics clients and the launch of new skincare products. The Guangzhou subsidiary also grew, supported by an expanded customer base in sun care and children's and baby skincare.

Revenue at the U.S. subsidiary surged 88% to KRW 69.5 billion, reflecting more repeat orders from existing clients and an increase in requests to develop skincare products. It also shortened product development timelines through collaboration with COSMAX's South Korean headquarters, recording operating profits for the second consecutive quarter following the second quarter.

The Southeast Asian subsidiaries also maintained their growth. Revenue at the Indonesian subsidiary rose 34% to KRW 28.8 billion as orders from existing clients recovered, while revenue at the Thai subsidiary increased 7% to KRW 16.2 billion, supported by the addition of new clients.

A COSMAX representative said, "We set a new record for revenue even in the slow season, driven by rapid growth at our South Korean subsidiary and growth across our global subsidiaries. We will further strengthen our position as the world's leading cosmetics ODM company by leveraging our R&D and manufacturing capabilities."

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