Samyang Foods achieved its highest quarterly performance to date in the third quarter of this year, driven by strong sales of its Buldak brand in overseas markets. The company maintained an operating profit margin above 20% for seven consecutive quarters, thanks to increased sales in key markets such as the United States and China.
On November 6, Samyang Foods announced that its consolidated operating profit for the third quarter reached 196.2 billion won, a 49.9% increase compared to the same period last year. During the same period, sales rose to 791.8 billion won, marking a 25.3% increase. Both sales and operating profit are the highest recorded for any quarter.
The growth in performance was primarily driven by international operations. Third-quarter overseas sales amounted to 660.8 billion won, a 29.4% increase from the previous year. Overseas sales accounted for approximately 83.5% of total revenue. Domestic sales also increased by 7.9% to 131.1 billion won.
Regionally, the growth of the U.S. subsidiary was particularly notable. Sales from the U.S. subsidiary reached 212.5 billion won, a 36.6% increase year-on-year, bolstered by expanded sales through major local retail channels such as Walmart, as well as increased sales in the Mexican market.
Sales from the Chinese subsidiary rose by 13.2% to 208.9 billion won, aided by an expanded distribution network in local snack channels. In Europe, demand for products surged, resulting in a 65.5% increase in sales to 86.9 billion won compared to the same period last year.
Profitability also improved, with the operating profit margin for the third quarter at 24.8%, maintaining the 20% level for seven consecutive quarters. The company attributed this to the expansion of its overseas distribution network and improvements in sales channel composition.
For the first three quarters of this year, cumulative sales reached 2.2776 trillion won, a 32.8% increase from the previous year. Cumulative operating profit rose by 42.7% to 549.5 billion won, while cumulative overseas sales increased by 37.6% to 1.8916 trillion won.
Samyang Foods has improved the operational efficiency of its domestic production facilities, including the Miryang plant, and expanded its global distribution network to increase supply volumes. The Buldak brand, its flagship product, continues to see growth in overseas sales, having surpassed cumulative sales of 10 billion units in the second quarter.
A company representative stated, "We have continued to see export growth through the expansion of our distribution network in key markets such as the U.S. and China. We plan to enhance the operational efficiency of our domestic production bases, including the Miryang plant, and systematize our global distribution infrastructure to respond stably to overseas demand."
* This article has been translated by AI.
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