KOLMAR KOREA Reports Strong Q3 Performance Boosting Cosmetics Market (Comprehensive)

Operating Profit 31 Billion KRW... 71.51% Increase YoY
Sales 516.4 Billion KRW... 9.05% Growth in the Same Period

Kolmar Korea achieved strong performance in the third quarter of this year, driven by the revitalization of the cosmetics market and robust sales of sun care products.

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

Kolmar Korea announced on the 10th that its operating profit for the third quarter of this year was tentatively estimated at 31.035 billion KRW, a 71.51% increase compared to the same period last year.

During the same period, sales increased by 9.05% to 516.385 billion KRW, and net profit surged by 203.92% to 19.756 billion KRW.

The domestic subsidiary saw a surge in orders from indie brands thanks to the Chinese government’s approval of group tours from Korea in August. As a result, sales reached 186.1 billion KRW, a 6% increase compared to the same period last year.

During the same period, sales from the China business recorded 40.3 billion KRW, up 43.3%, and operating profit turned positive from a loss of 6.9 billion KRW last year to a profit of 300 million KRW in the third quarter this year.

The North American business also recorded sales of 21.8 billion KRW, a 2.9% increase, but operating profit remained in the red with a loss of 2.7 billion KRW.

Yeonwoo, a subsidiary that manufactures cosmetic containers, posted sales of 61.2 billion KRW, a 13.2% increase compared to the same period last year, and operating profit turned positive to 1.6 billion KRW from a loss of 4.8 billion KRW in the same period last year.

HK Innoen recorded an operating profit of 22.4 billion KRW in the third quarter of this year, a 0.9% increase compared to the same period last year. Sales during this period rose 8.8% to 215.6 billion KRW.

Kolmar Korea plans to launch products with more than 80 clients targeting the sun protection market next year, recognizing the rapidly growing demand for UV protection products in China. In the U.S., the company intends to diversify its product lineup.

A Kolmar Korea official said, “Following the second quarter of this year, strong sales of sun care products continued, and as the market revitalized, orders from clients such as indie brands increased.”

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