Eglebet, Operating Profit of 3.2 Billion KRW in First Half... 130% Increase YoY

[Asia Economy Reporter Hyunseok Yoo] EagleVet announced on the 18th that it recorded an operating profit of 3.2 billion KRW in the first half of this year, a 130% increase compared to the same period last year. Net profit was 3.2 billion KRW, up 158%. Sales amounted to 20.2 billion KRW. Operating profit and net profit for the second quarter were 1.8 billion KRW and 1.9 billion KRW, respectively, showing significant increases of 125% and 289%. Sales were 10.3 billion KRW.

EagleVet’s strong performance is the result of growth in the pet business sector and an increase in the supply volume of domestic animal pharmaceuticals. The sales improvement in the pet business division is notable. Sales increased by 14% compared to the previous year, and product costs improved as depreciation expenses for the new factory partially ended, enhancing profitability.

In addition to imported pet food, the company is strengthening its approach to the pet pharmaceutical market by expanding its product portfolio and securing additional distribution channels, overcoming the limitations of the economic animal pharmaceutical market and establishing a foundation for new growth engines.

An EagleVet official stated, “The first half recorded strong performance, and as the pet market continues to grow, remarkable performance growth is expected in the second half. We plan to secure new growth engines for the animal pharmaceutical division by pursuing additional CMO contracts with various domestic and international pharmaceutical companies, not only in the pet business division.”

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