FOODWELL (005670) Q4 2024 earnings summary

Executive summary

• Achieved record consolidated sales of 272,991 million KRW in 2024, up 19.5% year-over-year, with operating profit of 13,926 million KRW, a 68% increase, and net income of 10,945 million KRW, up 33.8%.

• Growth driven by strong performance in health functional foods (+54.2%), frozen products (+75.5%), and steady gains in core OEM and export businesses.

• Maintained robust financial structure with total assets of 236,512 million KRW and equity of 119,796 million KRW at year-end.

Financial highlights

• Revenue rose to 272,991 million KRW from 228,487 million KRW year-over-year; operating margin improved to 5.1%.

• Net income attributable to controlling interests was 7,302 million KRW, up from 6,330 million KRW; EPS increased to 774 KRW.

• Cash and equivalents increased to 19,550 million KRW; total borrowings rose slightly to 70,157 million KRW.

• Dividend payout increased to 125 KRW per share, with a payout ratio of 16.15%.

Outlook and guidance

• Management targets continued sales and profit growth through product diversification, cost control, and export expansion.

• Focus on strengthening R&D, expanding health food and convenience meal lines, and maintaining stable liquidity.