Cosmax (A192820) Q4 2025 earnings summary

Executive summary

• Revenue for 4Q 2025 reached 173.7 KRW bn, up 18.5% year-over-year, with operating profit at 7.4 KRW bn, up 66.0% YoY.

• Net profit surged to 22.8 KRW bn, a 279.5% increase YoY, driven by strong affiliate performance and equity method gains.

• Consolidated profitability improved, with operating profit margin rising to 4.2%, up 1.2% YoY.

Financial highlights

• Full-year 2025 sales were 645.2 KRW bn, up 8.0% from 2024; operating profit was 27.0 KRW bn, up 60.7%.

• Gross profit for 2025 was 135.5 KRW bn, up from 112.3 KRW bn in 2024.

• Net profit for 2025 was 20.9 KRW bn, up from 8.0 KRW bn in 2024.

• Assets increased to 1,009.4 KRW bn, with equity rising to 298.1 KRW bn.

Outlook and guidance

• Health supplement business expects continued domestic growth and export support, with focus on customer portfolio diversification.

• Pharmaceutical segment aims to diversify customers and launch new products, despite current sales delays.