Nongshim (004370) Q1 2025 earnings summary

Executive summary

• Consolidated sales rose 2.3% year-over-year to KRW 893bn in 1Q25, with domestic sales up 2.1% and overseas sales up 2.9%.

• Gross profit remained flat at KRW 253bn, but the gross margin declined from 29.0% to 28.3% year-over-year.

• Operating profit decreased to KRW 56bn from KRW 61bn, and net profit fell to KRW 52bn from KRW 53bn year-over-year.

Financial highlights

• SG&A expenses increased to KRW 197bn (22.1% of sales), with labor costs rising and advertising expenses declining.

• Foreign exchange profit improved to KRW 0.5bn from KRW 0.3bn year-over-year.

• Total assets increased to KRW 3,676bn, and equity rose to KRW 2,697bn.

Outlook and guidance

• Forward-looking statements indicate exposure to risks and uncertainties that may impact future results.