Able C&C Posts KRW 26.3 Billion in Operating Profit Through Q3, 1.5 Times Last Year's Full-Year Total

Third-quarter revenue of KRW 57.9 billion and operating profit of KRW 6.5 billion
Overseas sales up 24.2%...accounted for 73% of cumulative revenue
Sales grew 49% in Europe and 28% in Japan...Daiso sales up 92%

Able C&C posted operating profit of KRW 26.3 billion through the third quarter of this year, about 1.5 times its full-year operating profit last year. Overseas sales continued to grow at a double-digit rate, while domestic sales increased through major distribution channels, including online platforms and Daiso.

Able C&C disclosed on Friday that it recorded consolidated revenue of KRW 57.9 billion and operating profit of KRW 6.5 billion in the third quarter of this year. Revenue rose 3% year over year, and the operating margin remained in double digits for the third consecutive quarter this year, at 11.2%. The company said its revenue growth rate was about 20% excluding sales from its directly operated stores in Korea, which it withdrew from in August.

Able C&C CI. Able C&C

Overseas operations drove growth. Overseas sales in the third quarter rose 24.2% year over year, and overseas markets accounted for 73% of cumulative revenue. Sales growth by region was 49% in Europe, 28% in Japan, 10% in the United States, and 87% in the Middle East.

In Europe, the company expanded its sales network through major distribution channels, including Boots and Superdrug in the United Kingdom and DM in Germany. Revenue growth in Europe accelerated from 43% in the first quarter to 48% in the second quarter and 49% in the third quarter. In Japan, sales of its flagship M Cushion product rose about 30% in local currency terms, enabling its local subsidiary to post a profit for the second consecutive quarter.

In Korea, online platforms and Daiso grew. Sales through major online platforms, including Naver and 11st, rose 32.3%. Daiso sales increased 92%, supported by strong sales of A'pieu's The Pure Hair Vinegar and the launch of Bodyholic's perfume line, reaching a quarterly record.

Able C&C plans to expand its online and offline distribution networks in the United States and Europe, improve the profitability of its overseas subsidiaries, and target emerging markets such as the Middle East.

Shin Yujeong, CEO of Able C&C, said, "Our third-quarter results demonstrate our solid fundamentals as a global beauty company, underpinned by robust growth in key overseas markets and stable profitability. We will continue on a sustainable growth trajectory through the rest of the second half of the year by expanding our global sales channels and strengthening our brand competitiveness."

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