Cosmax (A192820) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached 682.0 KRW bn, up 15.9% year-over-year, with operating profit at 53.0 KRW bn, up 3.3% YoY.

• Korea led growth with diversified categories, China achieved record-high revenue, and the US began a turnaround.

• Net profit surged 312.1% YoY to 43.8 KRW bn, driven by improved profitability in Korea and China and reduced losses in the US.

Financial highlights

• Gross profit increased 9.7% YoY to 115.0 KRW bn, with a gross margin of 16.9%.

• SG&A expenses rose 15.9% YoY to 62.0 KRW bn.

• Non-operating profit turned positive at 2.4 KRW bn, aided by FX gains.

• Net profit attributable to controlling shareholders rose 411.3% YoY to 41.6 KRW bn.

Outlook and guidance

• Korea expected to maintain growth through ingredient-driven skincare and direct export expansion.

• China to continue leveraging channel and client diversification for stable growth.

• US region aims to sustain turnaround with strong order momentum and local indie brand partnerships.