Dongwon F&B Reports Q3 Operating Profit of 45.1 Billion KRW, Down 8.0% YoY Due to Raw Material Price Increases

[Asia Economy Reporter Song Seung-yoon] Dongwon F&B reported a decrease in operating profit despite an increase in sales in the third quarter, due to factors such as rising raw material prices.

Dongwon F&B announced on the 2nd that its consolidated operating profit for the third quarter this year was tentatively estimated at 45.132 billion KRW, down 8.0% compared to the same period last year. Sales increased by 15.5% to 1.114648 trillion KRW compared to the same period last year, and net profit rose 89.3% to 28.59 billion KRW.

Subsidiary Dongwon Home Food showed improvement in the meat and food ingredient sectors due to increased dining-out demand and activation of B2B transactions, resulting in balanced growth across all sectors. However, profits declined due to rising raw material prices, logistics costs, and a high exchange rate environment.

A Dongwon F&B official explained, "Although sales grew across all sectors of Dongwon Home Food, the prices of key raw materials such as tuna, pork, cheese, and powdered milk surged sharply, and profit decreased due to increased import costs from fluctuations in the won-dollar exchange rate and rising logistics expenses."

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