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), driven by global expansion and regional strategies.

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

• Korea led growth with strong exports and K-beauty demand, while Southeast Asia also posted robust gains; US and China showed mixed results.

Financial highlights

• 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; SG&A expenses fell 20.3% YoY.

• Net profit dropped 38.1% YoY to KRW 21.8 bn, mainly due to higher non-operating losses.

• Cost of sales ratio at 81.9%, SG&A ratio at 8.3%, and operating margin at 9.8%.

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 and tailored regional strategies.