'Buldak Bokkeum Myeon Power' Drives Samyang Foods to Record-High Q1 Results

Sales Reach KRW 714.4 Billion, Up 35% Year-on-Year
Operating Profit Hits KRW 177.1 Billion, Up 32% from Previous Year
Operating Margin Remains Above 20% for Five Consecutive Quarters

Samyang Foods achieved record-high quarterly sales and operating profit in the first quarter of this year. The continued global popularity of Buldak Bokkeum Myeon (Hot Chicken Flavor Ramen) led to strong demand in international markets. This, combined with expanded production capacity and a favorable exchange rate environment, resulted in significant improvements in both revenue and profitability.

On May 13, Samyang Foods announced that its consolidated sales for the first quarter reached 714.4 billion won, with operating profit at 177.1 billion won. Sales rose by 35% and operating profit grew by 32% compared to the same period last year. Both sales and operating profit marked the highest quarterly figures in the company's history. The operating profit margin remained above 20% for the fifth consecutive quarter, reaching 24.8%. Despite external uncertainties, overseas demand for the Buldak brand remained strong, and Samyang Foods explained that the expansion of supply and the positive impact of exchange rates contributed to improved profitability.

Overseas sales increased by 38% year-on-year to 585 billion won. The increased supply, backed by higher capacity utilization at the Miryang 2nd Plant, supported rising demand, especially in Europe and the Americas, leading to a substantial jump in sales.

Sales in Europe amounted to 77 billion won, up by 215% compared to the same period last year, showing the highest growth rate among regions. Simultaneously, Samyang Foods established a new subsidiary in the UK and expanded entry into major distribution channels in key Western European markets such as Germany and the Netherlands. The company also reported continued steady growth in its largest export markets, the United States and China. The US subsidiary posted sales of 185 billion won, up 37% year-on-year, while the China subsidiary recorded 171 billion won in sales, an increase of 36%.

A representative from Samyang Foods stated, "Despite challenging external conditions, we delivered outstanding results, once again demonstrating the competitiveness and sustainable growth of the Buldak brand. This year, we plan to further solidify our foundation for high growth by strengthening our global management system and expanding our production and sales infrastructure."

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