Cosmax Reports Q3 Operating Profit of 33.3 Billion KRW, Up 69% YoY

Sales of 458.3 Billion KRW... 15.5% Growth Over the Same Period
Domestic Demand Growth... Improved Performance of Southeast Asia Subsidiary

Cosmax announced on the 13th that its consolidated operating profit for the third quarter of this year reached 33.3 billion KRW, a 68.7% increase compared to the same period last year.

[Photo by Cosmax]

During the same period, sales increased by 15.5% to 458.3 billion KRW, and net profit rose by 60.8% to 10.9 billion KRW.

A Cosmax representative explained, “The increase in operating profit was influenced by domestic corporate sales growth, export sales growth, and improved performance of local clients at the Southeast Asian subsidiaries in the third quarter of this year,” adding, “The influx of new indie brand clients is increasing, and the proportion of ODM sales is continuously expanding.”

In the third quarter of this year, Cosmax’s Korean subsidiary recorded an operating profit of 25.8 billion KRW, a 121.5% increase compared to the same period last year, and sales of 288 billion KRW, up 39.3%. This is interpreted as growth in the domestic market due to the sustained reopening effect.

Sales of the Indonesian subsidiary increased by 25.7% compared to the same period last year, reaching 23.4 billion KRW, and net profit rose by 83.8% to 900 million KRW.

However, in overseas business sectors such as China, the United States, and Thailand, sales declined, resulting in decreased operating profits. The Chinese subsidiary’s consolidated sales for the third quarter were 123.7 billion KRW, down 7.5% from the same period last year, while the U.S. subsidiary’s sales were 36.9 billion KRW, a 17.7% decrease. The Thai subsidiary recorded sales of 6.6 billion KRW, down 2.9% compared to the same period last year.

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