Aekyung Industrial said on the 4th that third-quarter results came in at 169.3 billion won in sales and 7.3 billion won in operating profit. Sales rose 2.4% from a year earlier, but operating profit fell 23.6%.
In the cosmetics business, third-quarter sales were 51.5 billion won and operating profit was 2.1 billion won, down 9.7% and 45.8%, respectively, from a year earlier.
Aekyung Industrial said results were sluggish due to slower domestic consumption in China, but it is pushing to recover sales and reinvigorate the brand through the launch of new products such as AGE20'S "Super Ectoin Prime Foundation Pact" and by strengthening sales and marketing centered on the TikTok channel.
In the United States, it is continuing to expand the market by strengthening flagship brand competitiveness and launching the new skincare brand signiq. It expanded AGE20'S color shades to 20 tones, strengthened content-centered communication, and drove sales growth.
In the household goods business, third-quarter sales were 114.6 billion won, up 7.1% from a year earlier. Operating profit was 5.4 billion won, down 5.8%. It maintained sales growth based on continuous new product launches and category expansion across major domestic and overseas channels, but profitability deteriorated due to rising raw material expense and other factors.
An Aekyung Industrial official said, "We will establish strategies such as strengthening profitability based on premium, globalization, and bolstering responses to growth channel platforms, reflecting changes in consumption environments at home and abroad and market trends," adding, "We plan to enhance competitiveness by market while laying a foundation for mid- to long-term growth."