KOLMAR KOREA Reports Strong Q2 Performance... Operating Profit Up 65.48% YoY (Comprehensive)

Operating Profit 55.7 Billion KRW... Sales Increase by 19.30%
"Impact of Domestic Market Boom Due to Reopening"

Korea Kolmar posted strong earnings in the second quarter of this year, driven by a robust domestic market following the reopening.

KOLMAR Korea Comprehensive Technology Institute, Seocho-gu, Seoul. [Photo by KOLMAR Korea]

Korea Kolmar announced on the 11th that its consolidated operating profit for the second quarter of this year was 55.7 billion KRW, representing a 65.48% increase compared to the same period last year.

During the same period, sales rose 19.30% to 599.7 billion KRW, and net profit increased 89.34% to 42.6 billion KRW.

According to Korea Kolmar, strong performance of sunscreen products such as sunsticks drove the overall growth in the second quarter. Sales of sunscreen products increased by 48% compared to the same period last year, accounting for 31% of total sales in the second quarter.

Sales from overseas subsidiaries also grew significantly. Sales from the China subsidiary reached 56.4 billion KRW, up 96.5% from the same period last year. In particular, sales from the North America subsidiary increased by 35.3% to 22.6 billion KRW during this period due to increased orders from indie brands.

Improved performance of subsidiaries also contributed to the strong earnings. Yeonwoo’s sales in the second quarter were 63.2 billion KRW, up 10.5% from the same period last year, and operating profit turned positive to 1.2 billion KRW.

A Korea Kolmar representative said, “The strong domestic market following the reopening and the solid performance of sunscreen products such as suncream drove the overall growth in earnings,” adding, “Improved performance of subsidiaries and overseas subsidiaries also had an impact.”

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