Amorepacific Reports Operating Profit of 427.8 Billion KRW, Down 11.2% Year-on-Year (Comprehensive)

[Asia Economy Reporter Yujin Cho] Amorepacific announced on the 5th that its consolidated operating profit for last year was tentatively estimated at 427.8 billion KRW, a decrease of 11.2% compared to the previous year.

During the same period, sales increased by 5.7% to 5.5801 trillion KRW, while net profit decreased by 37.2% to 210.4 billion KRW.

The company explained, "Sales increased due to growth in domestic channels such as online and multi-brand shops, but operating profit declined due to expanded overseas investments."

In the fourth quarter, sales recorded 1.5025 trillion KRW, up 7.5% year-on-year, and operating profit grew 281% to 62.5 billion KRW.

Amorepacific plans to diversify its channel portfolio in overseas markets to establish a foothold for performance improvement this year.

The company stated, "We are operating various entry channels in the Asian market to strengthen brand competitiveness, and in the North American market, we are considering utilizing new channels to expand sales of existing major brands."

In the European market, the company is actively utilizing multi-brand shops to prepare for a resurgence in the skincare market and announced that it will actively collaborate with various global business partners.

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