"Zero Carbonation and Reopening Combined" Lotte Chilsung Reports 2Q Operating Profit of 63.8 Billion KRW, Up 40% YoY
[Asia Economy Reporter Eunmo Koo] Lotte Chilsung Beverage recorded strong second-quarter results based on agile responses to market trends, such as expanding its zero portfolio, and the reopening effects of the entertainment market.
Lotte Chilsung Beverage announced on the 1st that its operating profit for the second quarter of this year was approximately 63.777 billion KRW, a 39.9% increase compared to the same period last year. During the same period, sales rose 13.9% to 762.188 billion KRW, and net profit also increased by 31.8% to 47.471 billion KRW.
The cumulative performance for the first half of the year also improved. Operating profit increased by 58.6% to 123.5 billion KRW compared to 77.9 billion KRW in the same period last year, sales rose 15.0% to 1.3884 trillion KRW, and net profit grew 64.4% to 78.6 billion KRW.
By business segment, the beverage division’s operating profit increased by 6.6% to 44.9 billion KRW compared to 42.1 billion KRW in the same period last year, and sales rose 13.1% to 518.8 billion KRW from 458.5 billion KRW. By category, carbonated drinks increased by 22.6%, driven by strong sales of zero products such as Toms Zero and Hot6 Zero, while bottled water also grew 11.1%, supported by the success of unlabeled products and the strengthened online consignment delivery of Icis.
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The alcoholic beverage division’s performance also improved. Operating profit for the second quarter turned positive to 9.6 billion KRW from a loss of 200 million KRW a year ago. Sales increased 15.0% from 163.9 billion KRW to 188.5 billion KRW. By category, wine sales stood out with a 30.9% increase to 23.8 billion KRW from 18.2 billion KRW in the same period last year, and cheongju (Korean rice wine) also rose 20.4% to 18.1 billion KRW, supported by the popularity of Byeolbit Cheongha. Soju (66.7 billion KRW) and beer (26.5 billion KRW) increased by 15.8% and 4.9%, respectively.
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