SMCG Reports Q1 Sales of 13.2 Billion KRW and Operating Profit of 1 Billion KRW

On May 15, SMCG, a global cosmetics glass container Original Design Manufacturer (ODM), announced that it recorded sales of 13.2 billion KRW and an operating profit of 1 billion KRW in the first quarter of this year. These figures represent increases of 21.4% and 20.1%, respectively, compared to the same period last year.

The company posted a net loss of 1.62 billion KRW. SMCG explained that this was due to non-operating merger expenses, which resulted from the fair value assessment difference of convertible bonds issued during the SPAC merger.

The global popularity of K-beauty drove the company's performance. Increased sales to indie brands such as Medicube and Inua, as well as product exports to global companies like Johnson & Johnson in the United States and YEPODA in Europe, contributed to the results.

Founded in 1998, SMCG is a specialized manufacturer of cosmetics glass containers, providing comprehensive solutions from production to post-processing. The company has improved quality and production efficiency by introducing automated processes and the largest electric melting furnace in Korea. SMCG is also focusing on expanding its presence in the global market by implementing ESG (Environmental, Social, and Governance) management practices and offering eco-friendly packaging.