S&D Co (260970) Q4 2024 earnings summary

Executive summary

• Achieved record sales of 116.1 billion KRW and net income of 17.0 billion KRW for FY2024, marking continued growth despite economic uncertainties.

• Maintained a robust financial structure with a debt ratio of 36.7% and ROE of 25.0%.

• No subsidiaries or affiliates; operates as a single business entity focused on functional food ingredients.

Financial highlights

• Revenue increased to 116.1 billion KRW in 2024 from 88.3 billion KRW in 2023 (31.6% YoY growth).

• Operating income rose to 20.1 billion KRW from 12.9 billion KRW (56.1% YoY growth).

• Net income grew to 17.0 billion KRW from 11.9 billion KRW (43.4% YoY growth).

• Basic and diluted EPS reached 5,256 KRW, up from 2,925 KRW.

• Gross margin improved, with gross profit at 28.1 billion KRW (24.2% margin).

Outlook and guidance

• Expanded business purposes in 2024 to enable future diversification, but no immediate new business launches planned.

• Focus remains on functional food ingredients, with ongoing R&D for new health-related products.