Samyang Foods said Friday that it recorded consolidated revenue of 791.8 billion won and operating profit of 196.2 billion won in the third quarter of this year. Revenue increased by 25.3% and operating profit by 49.9% from the same period last year, setting a new all-time quarterly record.
As a result, Samyang Foods has recorded cumulative revenue of 2.2766 trillion won through the third quarter of this year, bringing it to the brink of surpassing 3 trillion won in annual revenue.
According to Samyang Foods' Q3 IR materials, overseas sales drove overall performance growth. Overseas sales in the third quarter reached 660.8 billion won, a 29.4% increase from the same period last year, achieving a quarterly record high.
This was the result of responding to growing overseas demand through the expansion of global distribution networks and improved operating efficiency at domestic production facilities such as the Miryang plant. The flagship Buldak brand continued its sales growth in overseas markets even after surpassing 10 billion units in cumulative sales in the second quarter last year.
By key region, growth was particularly notable for subsidiaries in the U.S. and China. The U.S. subsidiary recorded revenue of 212.5 billion won, a 36.6% increase from the same period last year, driven by continued growth in mainstream channels such as Walmart and sales to Mexico. The Chinese subsidiary recorded revenue of 208.9 billion won, representing a 13.2% increase from the previous year.
Expanding into snack channels to broaden its sales base was a key factor. In Europe, revenue reached 86.9 billion won, a 65.5% increase from the same period last year, as product demand expanded.
Along with revenue expansion, stable profitability was also secured. The Q3 operating profit margin stood at 24.8%, marking the seventh consecutive quarter in the 20% range. Despite uncertainties in external conditions, improved channel mix resulting from the refinement of distribution networks in key markets drove performance defense and sustained profitability.
Thus, adding Q3 revenue of 791.8 billion won to its first-half cumulative revenue of 1.4848 trillion won, Samyang Foods has recorded total revenue of 2.2766 trillion won so far. If fourth-quarter revenue exceeds 723.5 billion won, the company will achieve the "3 trillion won club." Considering that demand for Buldak Bokkeum Myeon overseas remains strong, it is expected to be achieved without difficulty.
A Samyang Foods official said, "We have continued our export growth by expanding distribution networks in key markets such as the U.S. and China," adding, "We plan to steadily respond to overseas demand by improving the operating efficiency of domestic production hubs including the Miryang plant and systematizing global distribution infrastructure."
in LIVING
