Orion said on the 15th that first-quarter sales on a consolidation basis rose 16% from a year earlier to 930.4 billion won, while operating profit increased 26% to 165.5 billion won.
According to Orion that day, buoyed by strong performance at overseas subsidiaries in China, Vietnam and Russia, both sales and operating profit posted double-digit growth.
In particular, the Russia subsidiary grew rapidly. Sales surged 34.7% to 90.5 billion won, and operating profit jumped 66.2% to 14.2 billion won. Orion said the results were driven by expanded production capacity for products such as Chambungeoppang and Fresh Pie, strengthening products dedicated to each distribution channel, and the stabilization of a multi-product system.
The China subsidiary saw sales increase 24.8% to 409.7 billion won, helped by the peak-season effect of the "Spring Festival," higher sales of key products such as potato snacks, pies and jellies, and a sales strategy focused on high-growth channels. Operating profit rose 42.7% to 79.9 billion won.
The Vietnam subsidiary recorded sales of 151.3 billion won and operating profit of 26.6 billion won, up 17.9% and 25.2%, respectively. A surge in demand for the "Tet" holiday, robust overall product sales including potato snacks and rice crackers, and the effect of new spring-season products added to the gains.
At the India subsidiary, a sales strategy centered on the northeast region delivered results, with sales increasing 67% to 9.8 billion won.
Sales in Korea rose 0.4% to 283.4 billion won, and operating profit increased 4.6% to 48.5 billion won. Excluding royalty revenue, the operating profit growth rate was 0.3%.
An Orion official said, "With preemptive investment in domestic and overseas production and logistics facilities, supply volumes will expand in the second half, accelerating growth further."