[Click eStock] "Samyang Foods Expected to Maintain Strong Profitability in Q2"

On the 4th, Kiwoom Securities evaluated that expectations for Samyang Foods' performance in the second quarter are increasing. They also maintained their view of Samyang Foods as the top preferred stock in the food and beverage sector.

Park Sang-jun, a researcher at Kiwoom Securities, stated, "Due to strong ramen exports, the performance expectations for the second quarter may be revised upward again."

Samyang Foods announced that its annual growth rate of ramen export value increased by a total of 43% compared to the previous year. Specifically, China +126%, the United States +40%, Southeast Asia Top 5 +6%, and Europe +66% were recorded.

[Image source=Yonhap News]

Researcher Park explained, "While exports to China, Samyang Foods' main market, surged, exports to the United States and Europe remain solid," adding, "Due to new channel expansion, regional mix improvement, supply price increases, and a strong dollar, sales volume and ASP are continuing to rise."

Park predicted, "Especially with cumulative ramen export value in April and May approaching 300 billion KRW, second-quarter performance expectations may be revised upward. Considering the effect of the increase in the company's average selling price (ASP), second-quarter profitability could also be better than expected."