Cosmax (A192820) Q2 2025 earnings summary

Executive summary

• Achieved record high revenue of KRW 623.6 bn (+13.1% YoY) and operating profit of KRW 60.8 bn (+30.2% YoY) in Q2 2025, driven by global expansion and regional strategies.

• Revenue for H1 2025 was KRW 1,212.1 billion, with operating income of KRW 112.2 billion and net profit of KRW 32.5 billion.

• Net profit declined 38.1% YoY to KRW 21.8 bn in Q2 due to increased non-operating expenses, including interest and FX losses.

• The company operates as a global leader in cosmetics ODM, supplying over 3,300 brands worldwide, with a strong focus on R&D and global production infrastructure.

• The company maintains a robust ESG profile, with significant achievements in sustainability and environmental certifications.

Financial highlights

• Consolidated revenue for H1 2025: KRW 1,212.1 billion; operating income: KRW 112.2 billion; net profit: KRW 32.5 billion.

• Q2 2025 revenue rose 13.1% YoY to KRW 623.6 bn; operating profit up 30.2% YoY to KRW 60.8 bn.

• Gross profit increased slightly by 0.7% YoY to KRW 112.9 bn in Q2; SG&A expenses fell 20.3% YoY.

• Basic EPS for H1 2025: KRW 2,561.

• Cash and cash equivalents at period end: KRW 219.0 billion.

Outlook and guidance

• US revenue expected to recover in 2H 2025 by focusing on high-growth categories like suncare and body care.

• Continued emphasis on global market expansion, tailored regional strategies, and investment in R&D and digital transformation.