Foosung (093370) Q2 2025 earnings summary

Executive summary

• Revenue for the first half of 2025 was KRW 231.3 billion, up 4.91% year-over-year, driven by increased demand for refrigerants and higher domestic prices, as well as growth in overseas chemical equipment orders.

• Operating income turned positive at KRW 14.7 billion, compared to a loss of KRW 9.6 billion in the prior year period.

• Net loss attributable to owners was KRW 19.7 billion, narrowing from a net loss of KRW 69.4 billion in the previous year.

• The company maintains a leading position in fluorochemical products and is the sole domestic producer of key battery and semiconductor gases.

Financial highlights

• Total assets at June 30, 2025: KRW 830.3 billion; equity: KRW 345.7 billion.

• Gross margin improved to 19.8% from 15.7% year-over-year.

• Operating margin for the half-year was 6.3%, up from -2.2% in the prior year.

• Basic EPS was -184 KRW, compared to -668 KRW in the previous year.

• Cash and cash equivalents at period end: KRW 40.9 billion.

Outlook and guidance

• The company is investing in new production capacity for battery materials and semiconductor gases to capture global demand.

• Strategic focus on expanding global market share, developing next-generation materials, and enhancing operational efficiency.