Eglebit, Operating Profit of 3.5 Billion Last Year... 84% Increase Compared to Previous Year

[Asia Economy Reporter Hyunseok Yoo] EagleVet announced on the 10th that it achieved sales of 40.4 billion KRW and an operating profit of 3.5 billion KRW last year. Compared to the previous year, sales grew by approximately 17%, and operating profit increased by about 84%. Net profit also rose by 86%, recording 2.3 billion KRW.

The main factor behind last year's performance growth was the diversification of distribution channels in the pet business. EagleVet's pet business secured new online distribution networks, resulting in about a 13% increase in sales compared to the previous year, serving as a driving force for overall performance growth. EagleVet distributes premium pet foods such as ‘Now’, ‘Go’, and ‘Gather’, as well as new products like ‘Now Tetra Pack’ and ‘Rabivet Probiotics’.

An EagleVet official explained, “The increase in recognition of imported premium pet foods distributed by the company and the expansion of distribution channels led to growth in sales, operating profit, and net profit last year. Additionally, with the reduction of overseas accounts receivable, exports of animal pharmaceuticals have normalized, and we expect to continue the growth trend this year.”

EagleVet also announced a cash dividend. It will pay a cash dividend of 40 KRW per common share, with the total dividend amounting to approximately 500 million KRW. The dividend record date was December 31 of last year.

The official stated, “We will continue to pay cash dividends steadily after listing to reward shareholders who trusted and invested in the company by enhancing shareholder value. We will not be complacent with current growth but will strive to expand market share by securing new distribution channels and developing new products that meet consumer needs.”

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