Samyang Foods' record third-quarter revenue was powered by overseas markets, which accounted for about 83.5% of sales as the South Korean maker's operating profit rose 49.9%.
A regulatory filing dated Nov. 6 put the company's July-through-September revenue at 791.8 billion won, up 25.3% from a year earlier. Revenue reached a quarterly high. Operating profit was 196.2 billion won, a 49.9% year-over-year gain. The company filed the preliminary results Nov. 6.
International revenue grew 29.4% to 660.8 billion won. Domestic revenue rose 7.9% to 131.1 billion won. The Korea Herald reported that revenue at Samyang's U.S. subsidiary climbed 36.6% to 212.5 billion won, with growth tied to broader access to major U.S. retail chains, including Walmart, and higher sales in Mexico. The Korea Herald also reported that revenue in China rose 13.2% to 208.9 billion won as Samyang expanded sales through snack channels, while European sales increased 65.5% to 86.9 billion won, the strongest growth among the markets cited. It reported that the United States was the largest overseas market, with China close behind.
Samyang said overseas Buldak sales kept growing after cumulative sales passed 10 billion units in the second quarter. It pointed to wider distribution and more efficient production at its domestic plants. The company also said expanded availability in key markets such as the United States and China helped sustain export growth.
Samyang's operating margin was 24.8%, extending its run above 20% to seven consecutive quarters. The company linked profitability to a stronger sales-channel mix in key markets.
Revenue for the first nine months totaled 2.28 trillion won. Based on that reported amount, slightly more than 720 billion won in fourth-quarter revenue would bring the annual total to 3 trillion won. That threshold is a calculation from reported revenue, not a company forecast. Samyang said it plans to improve plant efficiency and streamline its global distribution network to meet overseas demand.
