“The Power of Buldak”... Samyang Foods Co., Ltd. Posts Record Third-Quarter Revenue and Operating Profit

[Financial News] Samyang Foods Co., Ltd. posted record quarterly revenue and operating profit in the third quarter of this year, driven by the global success of its Buldak brand.
Samyang Foods Co., Ltd. said in a filing on the 6th that its consolidated operating profit in the third quarter rose 49.99% year on year to 196.2 billion won. Revenue increased 25.3% to 791.8 billion won. Both revenue and operating profit set new quarterly records.
Overseas revenue drove overall growth in the third quarter. It rose 29.4% year on year to 660.8 billion won, a quarterly record.
The growth is attributed to the company’s ability to meet rising overseas demand by expanding its global distribution network and improving the operating efficiency of domestic production facilities, including the Samyang Foods Miryang Plant. The company’s flagship Buldak brand continued to post sales growth in overseas markets after cumulative sales surpassed 10 billion units in the second quarter.
Growth at the U.S. and Chinese subsidiaries was particularly strong. The U.S. subsidiary’s revenue rose 36.6% year on year to 212.5 billion won, driven by growth in mainstream channels such as Walmart Inc. and in sales in Mexico.
The Chinese subsidiary posted revenue of 208.9 billion won, up 13.2% year on year. Expanded snack channels helped broaden its sales base. In Europe, revenue rose 65.5% year on year to 86.9 billion won as demand for its products increased.
Along with revenue growth, the company maintained stable profitability. Its operating margin was 24.8% in the third quarter, remaining in the 20% range for seven consecutive quarters. Despite uncertainty in external conditions, an improved channel mix—resulting from the upgrading of distribution networks in key markets—helped protect performance and maintain profitability.
A Samyang Foods Co., Ltd. representative said, “We plan to improve the operating efficiency of domestic production hubs, including the Miryang plant, and systematize our global distribution infrastructure so that we can continue to respond reliably to overseas demand.”

[email protected] Kim Seo-yeon Reporter