d'Alba Global (483650) Q3 2025 earnings summary

Executive summary

• 3Q25 revenue reached ₩117.3B, up 59% year-over-year, with operating profit at ₩16.7B and net profit at ₩14.0B.

• Overseas sales grew 97% YoY, now comprising 65% of total revenue, with strong growth in North America, Europe, and ASEAN.

• 35 consecutive quarters of YoY sales growth achieved.

Financial highlights

• Gross margin was 76% in 3Q25, slightly down due to a 1.3%p increase in COGS ratio to 24.2%.

• SG&A ratio rose 3.6%p YoY to 61.6% due to increased marketing investment ahead of peak season.

• Operating margin was 14%, and net margin 12% for 3Q25.

• YTD revenue for 2025 reached ₩359.5B, up 68% YoY.

Outlook and guidance

• Continued focus on global expansion, especially in emerging markets (India, Middle East, LATAM).

• High-value SKUs and new product categories (beauty devices, personal care, color cosmetics) expected to drive future growth.