CJ Cheiljedang (097950) Q4 2025 earnings summary

Executive summary

• 4Q25 sales rose slightly to KRW 4,537bn, driven by overseas food growth, but operating profit declined to KRW 181bn due to weak BIO market conditions and holiday timing differences.

• Net loss of KRW -876bn in 4Q25, mainly from non-operating losses, including significant asset impairments.

• FY2025 sales reached KRW 17,755bn, with operating profit at KRW 861bn, both impacted by BIO segment weakness and higher costs.

• Net loss for FY2025 was KRW -658bn, reflecting continued non-operating losses.

Financial highlights

• 4Q25 sales (excl. CJ Logistics) up 1.4% YoY; operating profit down 15.8% YoY.

• FY2025 sales (excl. CJ Logistics) down 0.6% YoY; operating profit down 15.2% YoY.

• Gross margin for 4Q25 declined to 26.4% from 27.7% YoY.

• EBITDA margin for 4Q25 was 9.6%, down from 10.1% YoY.

• Significant non-operating loss in 4Q25 due to asset impairments and FX-related losses.

Outlook and guidance

• 2026 expects low single-digit sales growth and operating margin broadly in line with prior year.

• Overseas food to drive growth, especially in Americas, Japan, China, and Europe/Oceania.

• BIO segment to focus on operational efficiency and new demand amid market volatility.

• Strategic focus on cash flow improvement, asset monetization, and cost optimization.