Daesang said last year's operating profit on a consolidation basis was 170.6 billion won, down 3.6% from a year earlier.
According to the Financial Supervisory Service's electronic disclosure system on the 29th, Daesang's last year sales on a consolidation basis were 4.4015 trillion won, up 3.4% from a year earlier. Net income for the same period was 75.7 billion won, down 21.7%.
Fourth-quarter sales last year were 1.0497 trillion won. That was up 0.5% from the same period a year earlier. Operating profit for the same period was 21.7 billion won, down 34.9%.
The results appear to reflect a slight increase in domestic food business revenue as sales of health foods, sauces, and fresh foods rose, and improved performance of high value-added bio products such as histidine. Continued sales expansion of key global items such as gim (dried seaweed), sauces, and ready-to-eat meals also led to higher revenue.
However, Daesang noted that higher expenses from mutual tariffs with the United States and reduced demand from starch sugar clients in alcohol and beverages due to the economic slowdown had a negative impact.
Daesang plans to streamline non-core and low-efficiency product lines and focus people and capabilities on its main businesses and growth items. In particular, it will not only scale up its core items centered on kimchi, gochujang, and gim, but also push into new markets such as Russia, Canada, the Middle East, and Central and South America.
A Daesang official said, "We will fully expand key growth businesses such as natural seasoning materials and allulose, and strengthen our high value-added lineup of premium amino acids," adding, "We plan to maximize the stability and efficiency of the materials business through Smart Factory and process automation." The official added, "We will expand with a focus on sauces and ready-to-eat meals based on the K-food trend."