Amorepacific (090430) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 increased by 10.6% year-over-year to KRW 3,089.4 billion, with operating income up 99.5% to KRW 283.3 billion and net income attributable to owners of parent at KRW 224.8 billion.

• Growth was driven by strong performance in both domestic and overseas markets, with strategic focus on premium brands, channel diversification, and the acquisition of COSRX.

• The company maintained a strong financial position, with total assets of KRW 6,734.0 billion and equity of KRW 5,430.5 billion as of September 30, 2025.

Financial highlights

• Revenue rose 10.6% year-over-year to KRW 3,089.4 billion for the first three quarters of 2025.

• Operating income nearly doubled to KRW 283.3 billion, and net income attributable to owners of parent reached KRW 224.8 billion.

• Gross margin improved to 71.8% from 69.9% year-over-year, with gross profit at KRW 2,229.4 billion and operating margin at 9.2%.

• SG&A expenses increased 3.3% but declined as a percentage of revenue to 62.8%.

• Earnings per share (basic) for common stock was KRW 3,081.

Outlook and guidance

• The company aims to maintain a dividend payout ratio of 35% through 2025, with a focus on stable shareholder returns and free cash flow utilization.

• Strategic priorities include strengthening global brand competitiveness, expanding premium and functional product portfolios, and accelerating digital and channel transformation.

• Continued focus on expanding premium product mix and global brand presence.

• Ongoing channel and product innovation expected to support future growth.