Samyang Foods half-year sales break W1tr on overseas growth

Samyang Foods said Sunday that its revenue in the first half of this year surpassed 1 trillion won ($720 million) for the first time, as strong overseas demand pushed sales in the first two quarters past the 500 billion won mark on double-digit growth.

In the April-June quarter, the maker of Buldak noodles posted sales of 553.1 billion won and operating profit of 120.1 billion won, up 30 percent and 34 percent, respectively, from a year earlier. Revenue came in higher than the first quarter’s 529 billion won, though operating profit edged down from 134 billion won.

The company’s half-year revenue surged to 1.08 trillion won, a record high.

Second-quarter overseas sales climbed 33 percent to 440.2 billion won, led by sustained growth in its two largest markets, China and the US, and a sharp pickup in Europe. Operating profit surpassed 100 billion won for a second straight quarter, keeping margins in the 20 percent range.

The company’s Chinese unit reported roughly $90 million in sales, up 30 percent from a year earlier, driven by new locally tailored products and expanded online and offline channels.

Samyang America generated $94 million in revenue, a 32 percent on-year increase, after widening distribution to mainstream retailers including H-E-B and Sam’s Club.

Samyang's European unit, established in July 2024, more than doubled revenue from the prior quarter to around $37 million.

“We aim to gradually increase export volumes in the second half, as our second Miryang plant, now online, can help meet rising overseas demand,” a company official said. “We plan to pursue country-specific strategies to sustain long-term growth, based on our expanded production capacity."