Amorepacific (090430) Q1 2026 earnings summary

Executive summary

• Revenue grew 6.4% year-over-year to 1,135.8 billion KRW, with operating profit up 7.6% to 126.7 billion KRW and net income down 5% to 113.0 billion KRW.

• Growth was driven by strong domestic performance, resilient online and MBS channels, and stable travel retail and cross-border business.

• Overseas revenue increased, led by Americas, EMEA, Japan, and APAC, while Greater China saw a decline due to offline channel restructuring.

Financial highlights

• Gross profit margin expanded to 73.1% from 72.1% year-over-year.

• SG&A expenses rose 7.9%, with marketing expense up 19.7% due to investments in new brand launches overseas.

• Operating profit margin improved to 11.2% from 11.0% year-over-year.

• Net income margin decreased to 9.9% from 11.1% year-over-year.

Outlook and guidance

• Continued focus on online and multi-brand shop channels, global expansion of key brands, and strengthening of travel retail and cross-border business.

• Ongoing investments in marketing and new product launches expected to support future growth.