Cosmax (A192820) Q3 2025 earnings summary

Executive summary

• Consolidated revenue for 3Q 2025 reached 153.5 KRW bn, up 1.0% year-over-year, while operating profit declined 5.0% to 3.2 KRW bn.

• Net loss widened to 7.7 KRW bn, primarily due to decreased equity method income and a one-off expense from asset disposal at NBT's US subsidiary.

• High growth in BTI segment offset by underperformance in NBT and continued losses in Pharma.

Financial highlights

• Gross profit increased to 32.8 KRW bn from 28.0 KRW bn year-over-year.

• Operating profit margin was 2.1%, down 0.1 percentage points year-over-year.

• Net profit attributable to controlling shareholders turned negative at -1.9 KRW bn.

• Total assets rose to 978.5 KRW bn, with equity decreasing to 267.2 KRW bn.

Outlook and guidance

• New sales contributions expected in NBT Korea from the fourth quarter.

• Recovery in Australia sales base indicated by 13% quarter-over-quarter growth.