Woojin B&G Doubles Operating Profit Year-on-Year... Accelerates Efforts to Enhance Shareholder Value with Stock Split

Woojin B&G, a company specializing in veterinary pharmaceuticals and vaccines, is pursuing a stock split in an effort to improve its performance and enhance shareholder value.

On March 20, Woojin B&G announced that, on a standalone basis, it recorded sales of 30.2 billion won and an operating profit of 2.2 billion won last year. Sales increased by about 14% compared to 26.4 billion won the previous year, while operating profit jumped by approximately 100% from 1.1 billion won, marking a significant improvement in profitability.

This growth in performance is attributed to the company’s research and development (R&D) achievements in veterinary pharmaceuticals and high value-added vaccine businesses. Woojin B&G maintained a stable supply in the domestic market while expanding exports to overseas markets such as Southeast Asia and Central and South America, thereby achieving both top-line growth and improved profitability.

Based on this performance trend, Woojin B&G is pursuing a stock split to ensure the company is valued appropriately. At the 41st Annual General Meeting of Shareholders scheduled for March 27, the company plans to propose an amendment to its articles of incorporation to conduct a 5-to-1 stock split, raising the par value per share from 500 won to 2,500 won.

This stock split is seen as a measure to adjust the number of shares in circulation, reduce stock price volatility, and establish a corporate image that aligns with its financial structure. After the split, the company expects an increase in the price per share, which is anticipated to boost market confidence and have a positive impact on stock price stability and corporate value.

A company representative stated, "Our accumulated technological competitiveness in the fields of veterinary pharmaceuticals and vaccines is leading to improved performance," adding, "Based on our stable growth, we will carry out the stock split as planned to maximize shareholder value and continue responsible management."

Meanwhile, the company’s price-to-book ratio (PBR) is around 0.9 times in 2024 and is expected to be about 0.8 times in 2025, which means it remains undervalued compared to its current asset value. However, some analysts suggest that, given the recent improvement in performance, the company's value could be gradually reassessed in the future.

Woojin B&G plans to secure additional growth drivers through the global expansion of its premium pet food business and the launch of new vaccine lineups, further strengthening its competitiveness in the global veterinary medicine market.

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