KT&G (033780) Q3 2025 earnings summary

Executive summary

• Achieved record quarterly operating profit and highest-ever revenue, driven by robust global CC growth, strong tobacco business performance, and improved NGP results.

• Global conventional cigarettes (CC) posted record-high performance for three consecutive quarters, with double-digit growth in both volume (+12.9%) and average selling price (+10.7%).

• Full-year guidance raised to anticipate double-digit growth in revenue and operating profit, reflecting strong global market momentum.

• Strategic partnership and joint acquisition of Another Snus Factory (ASF), a leading Nordic nicotine pouch manufacturer, with Altria to expand globally from 2026.

Financial highlights

• Q3 consolidated revenue rose 11.6% year-over-year to KRW 1.83 trillion.

• Operating profit increased 11.4% to KRW 465.3 billion.

• Net income surged 73.4% to KRW 418.7 billion, driven by higher currency-related non-operating profits.

• EPS climbed 81.7% to KRW 3,898.

• EBITDA grew 12.3% to KRW 540.5 billion, with a margin of 29.6%.

Outlook and guidance

• Full-year 2025 revenue and operating profit guidance raised to anticipate double-digit growth year-over-year, reflecting strong global CC momentum.

• Global expansion of nicotine pouch business planned from 2026, leveraging new partnership.