Ottogi's Q2 Operating Profit Down 26.8%... Chairman Ham Youngjoon Receives 510 Million KRW

Operating Profit at 45.1 Billion KRW,
Sales Reach 902 Billion KRW

Ottogi announced on the 14th that its consolidated operating profit for the second quarter of this year was 45.1 billion KRW, a decrease of 26.8% compared to the same period last year.

During the same period, sales increased by 5% to 902 billion KRW, while net profit declined by 19.3% to 34.1 billion KRW.

For the first half of the year, consolidated operating profit was 102.6 billion KRW, down 23.9% year-on-year, while sales rose 4.6% to 1.8228 trillion KRW. Net profit for the half-year fell by 25.8% to 67.4 billion KRW.

Ottogi

An Ottogi official stated, "Domestic sales of refrigerated and frozen products such as dumplings, pizza, and cold noodles have expanded, and exports have also increased overseas." The official added, "However, operating profit declined due to a rise in selling and administrative expenses and higher cost of goods sold resulting from increased raw material costs."

In fact, overseas sales for the first half reached 196.3 billion KRW, an increase of 18.3%. The company explained that sales grew mainly in the United States and Vietnam, and the proportion of overseas sales in total sales rose by 1.3 percentage points to 10.8%.

Meanwhile, according to Ottogi's semi-annual report released on this day, Ottogi Chairman Ham Youngjoon received a total remuneration of 510 million KRW in the first half of this year. There were no bonuses or other forms of income; he received the entire amount as salary.

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