"Increase in E-Cigarette Sales and Exports" KT&G Reports 333 Billion KRW Operating Profit in Q1, Up 6.3% YoY

[Asia Economy Reporter Eunmo Koo] KT&G announced on the 12th that its consolidated operating profit for the first quarter of this year was tentatively estimated at 333 billion KRW, a 6.3% increase compared to the same period last year. During the same period, sales rose 16.1% to 1.4026 trillion KRW, but net profit decreased by 3.4% to 263.4 billion KRW.

KT&G explained, "Sales increased due to the expanding growth of the domestic and overseas heated tobacco product (HNB) sector and increased exports of conventional cigarettes."

In the first quarter of this year, KT&G sold approximately 9.54 billion conventional cigarettes domestically, which is a 0.9% decrease compared to the same period last year. However, the market share in this sector rose by 1.2 percentage points to 65.7%. In the heated tobacco product market, it recorded a 45.1% market share. Overseas sales of conventional cigarettes increased by 43.8% to 11.5 billion sticks, supported by a recovery in exports to key markets such as the Middle East, Asia, and the Pacific.

Meanwhile, KGC Ginseng Corporation's first-quarter sales were 374.1 billion KRW, a 1.6% decrease compared to the same period last year. Operating profit and net profit also declined by 35.8% and 30.2%, respectively.

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