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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] SEOUL – Aekyung Industrial (KRX: 018250) announced on July 31 that its Q2 2024 consolidated operating profit fell 36.1% YoY to ₩11.2 billion, while revenue slipped 1.3% to ₩171.3 billion.
The results slightly missed revenue forecasts (₩174.9 billion) but beat operating profit expectations (₩10.6 billion).
For the first half of 2024, Aekyung recorded:
Revenue: ₩322.4 billion (-5.9% YoY)
Operating profit: ₩17.2 billion (-49.3% YoY)
Segment Performance
Cosmetics
Revenue: ₩62.5 billion (-14.4% YoY)
Operating profit: ₩6.8 billion (-45.7% YoY)
The company attributed the decline to a high base effect from last year’s strong growth but noted ongoing investment in overseas brand marketing. In China, TikTok livestreaming and influencer sales contributed to revenue growth, while the share of sales from AGE 20’s new products continues to expand.
Household Goods
Revenue: ₩105.1 billion (+5.9% YoY)
Operating profit: ₩4.1 billion (-16.7% YoY)
The segment benefitted from robust sales across key domestic and international channels, though increased brand and marketing investments weighed on profitability.
Aekyung Industrial stated it will continue to strengthen overseas marketing and product innovation, aiming to balance short-term cost pressures with long-term growth in its beauty and household businesses.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
