Samyang Foods Posts Record-High Quarterly Operating Profit of 134 Billion KRW in Q1

67% Increase Year-on-Year
Sales Reach 529 Billion KRW... Overseas Sales Surpass 400 Billion KRW

Samyang Foods achieved its highest-ever quarterly results, driven by strong overseas sales.

On May 15, Samyang Foods announced that its operating profit for the first quarter reached 134 billion KRW, a 67% increase compared to the same period last year. This is the first time the company’s quarterly operating profit has exceeded 100 billion KRW. The significant improvement in profitability was attributed to an increased share of overseas sales due to diversification of export regions and the effect of a favorable exchange rate.

During the same period, sales amounted to 529 billion KRW, up 37%, and the operating margin was 25%.

Samyang Foods Headquarters View. Samyang Foods

Overseas sales in the first quarter rose by 47% year-on-year to 424 billion KRW. For the first time in its history, overseas sales surpassed 400 billion KRW, just three quarters after exceeding 300 billion KRW in the second quarter of last year, driving overall performance. The proportion of overseas sales expanded to 80% of total revenue.

The growth in overseas sales was supported by steady performance across all regions, centered around subsidiaries in the United States, China, and Europe. In the United States, the Buldak brand ranked among the top ramen brands in the category at Walmart, which has completed nationwide distribution, alongside Nissin and Maruchan. As main distribution channels such as Kroger and Target rapidly expanded, Samyang America achieved sales of 91 million USD, a 62% increase compared to the same period last year.

In China, thanks to robust local sales growth, Samyang Foods Shanghai Co., Ltd. recorded sales of 610 million RMB, up 22% year-on-year.

The European subsidiary, established in July last year, began supplying major distribution channels in the region, such as Albert Heijn and REWE, and recorded sales of 16 million EUR in the first quarter. Recently, the competitiveness of the Buldak brand has been recognized by local distributors and consumers. At the 'Wheel of Retail,' one of the most prestigious awards in the Dutch retail industry, Carbo Buldak Bokkeum Myeon won three awards and was selected as the best new product launched in Dutch supermarkets in 2024.

A Samyang Foods representative stated, "When the Miryang No. 2 Plant is completed in June, production capacity will increase, and we expect even greater synergy with our overseas subsidiaries. Through this, we anticipate creating another growth momentum." The representative added, "We will continue to focus on diversifying export markets and improving production efficiency to reduce costs, thereby achieving both quantitative and qualitative growth."