CJ CheilJedang Reports Q1 Operating Profit of 435.7 Billion KRW, Up 13.1% YoY (Comprehensive)

[Asia Economy Reporter Song Seung-yoon] CJ CheilJedang announced on the 9th that its consolidated operating profit for the first quarter of this year was preliminarily estimated at 435.7 billion KRW, a 13.1% increase compared to the same period last year.

Sales reached 6.9799 trillion KRW, up 13% compared to the same period last year. Net profit increased by 13.3% to 247.9 billion KRW. Excluding CJ Logistics' performance, sales were recorded at 4.3186 trillion KRW, a 17.6% increase. Operating profit rose 6.6% to 364.9 billion KRW.

Sales in the food business division increased by 13% year-on-year to 2.6095 trillion KRW. Domestically, growth continued in large new products such as Home Meal Replacement (HMR), and overseas processed food sales, including the U.S. Schwann's, also increased by 15% year-on-year, which CJ CheilJedang analyzed as a successful outcome. The overseas portion of total food sales also exceeded 45%. However, operating profit in the food business division decreased by 4% year-on-year to 169.7 billion KRW due to increased cost burdens.

Sales in the bio business division increased by 39.3% year-on-year to 1.0828 trillion KRW, and operating profit rose 128% to 175.8 billion KRW. Sales of CJ Feed & Care, the independent feed and livestock corporation, increased by 6.6% to 626.3 billion KRW, but operating profit decreased by 78.2% due to cost burdens from falling pork prices in Vietnam and rising grain prices.

A CJ CheilJedang official stated, "We will secure structural competitiveness and continue innovative growth through research and development (R&D) investments, including new product development and strengthening new businesses to prepare for the future."

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