Samyang Foods has achieved a significant milestone, surpassing 600 billion won in overseas sales for the first time in a quarter, driven by the growth of its Buldak Bokkeumyeon brand. The company also maintained an operating profit margin above 20% for six consecutive quarters, balancing growth and profitability.
In its Q2 earnings report released on August 14, Samyang Foods announced a consolidated operating profit of 176.2 billion won, a 46.7% increase compared to the same period last year. Revenue for the same period rose by 39.3% to 770.3 billion won.
The growth in performance was primarily attributed to overseas operations. In Q2, overseas sales reached 645.8 billion won, marking a 46.7% increase year-on-year. This is the first time quarterly overseas sales have exceeded 600 billion won, setting a new record.
Samyang Foods explained that the enhancement of its overseas distribution network and improvements in the efficiency of domestic production facilities, such as the Miryang plant, supported global demand. The flagship Buldak brand continues to grow in international markets, having surpassed cumulative sales of 10 billion units by the end of May.
Regionally, major overseas subsidiaries showed balanced growth. Sales in the Americas reached 203.6 billion won, a 54% increase from the previous year, driven by expanded distribution channels in the U.S. and increased sales in Central America, including Mexico.
In China, sales grew by 44% year-on-year to 181.0 billion won, aided by the expansion of sales channels in the snack sector.
Europe exhibited the most rapid growth, with sales soaring by 61% year-on-year to 80.6 billion won, supported by strong performance in key markets like Germany and France and an expansion of its market presence.
Profitability remained robust, with Samyang Foods reporting an operating profit margin of approximately 23% in Q2, maintaining over 20% for six consecutive quarters. Analysts attribute this to improved sales channel composition, increased production efficiency, and favorable exchange rates.
The company also reported strong cumulative results for the first half of the year, with revenue reaching 1.4847 trillion won, a 37.2% increase compared to the same period last year. Operating profit rose by 39.0% to 353.3 billion won, while net profit for the half-year increased by 54.1% to 282.0 billion won.
A representative from Samyang Foods stated, "We will continue to support global demand by strengthening the roles of our overseas subsidiaries and enhancing our domestic and international production infrastructure."
* This article has been translated by AI.
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