Samyang Foods' overseas sales top W600b for first time in Q2

Samyang Foods reported Friday that its consolidated second-quarter sales rose 39.3 percent year-on-year to 770.3 billion won ($544 million), while operating profit grew 46.7 percent over the same period to 176.2 billion won.

Overseas sales drove the results. International revenue climbed 46.7 percent year-on-year to 645.8 billion won in the second quarter, surpassing 600 billion won for the first time on a quarterly basis and setting a new record.

The expansion of overseas distribution networks and improved efficiency at domestic production facilities, including the Miryang factory, underpinned global demand. The Buldak brand crossed the cumulative milestone of 10 billion units sold by late May, further demonstrating its global momentum.

Growth was broad-based across major regions, led by overseas subsidiaries. Sales in the Americas reached 203.6 billion won, up 54 percent year-on-year, driven by expanded distribution through mainstream and ethnic retail channels in the United States and strong growth in Central America, including Mexico. Sales in China rose 44 percent to 181 billion won.

Europe also posted notable gains. Sales in the region reached 80.6 billion won, up 61 percent year-on-year, supported by strong performance in Germany and France and expansion into additional markets within the region.

Profitability held firm as well. Despite a challenging business environment marked by uncertain export conditions and raw material supply difficulties, the company achieved an operating margin of 23 percent — its sixth consecutive quarter above 20 percent. Improvements in channel mix from a more sophisticated overseas sales network, higher production efficiency and a favorable exchange rate all contributed to the stronger margins.

"Even amid global economic uncertainty, we have further solidified our growth structure centered on overseas operations and delivered solid earnings," a Samyang Foods official said. "We will continue to strengthen the role of our regional overseas subsidiaries and our domestic and international production infrastructure to support global demand and sustain growth."