Amorepacific Holdings Corp. · KRX:002790
Amorepacific — FY2024 Earnings Presentation
14 slides from Amorepacific's earnings presentation, Feb 6, 2025
Slide 1: 2024 Earnings Release
2024 Earnings Release 2025.2.6
Slide 2: Earnings Summary and Financial Summary
2024 Earnings Summary - Domestic Business - Overseas Business 4Q 2024 Earnings Summary - Domestic Business - Overseas Business Financial Summary The financial information included in this document is interim consolidated earnings results based on K-IFRS. This document is provided for the convenience
Slide 3: FY 2024 Earnings Summary
FY 2024 Earnings Summary Amorepacific revenue up 5.7% to KRW 3.9 trillion, operating profit up 103.8% to KRW 220.5 billion Domestic revenue down 2.4%, operating profit up 1.3%. Overseas revenue up 20.6%, operating profit turned to profit (Unit: KRW bn) 2023 % of Revenue 2024 % of Revenue YoY(%) Reve
Slide 4: FY 2024 Domestic Business
FY 2024 Domestic Business -2% 2,210.8 2,157.0 • % of total domestic revenue LUXURY 1,206.7 1,236.7 +2% -Sulwhasoo31%/Hera15% -Laneige10%/Aestura4% -MiseEnScene6%/Ryo3%/Illiyoon3% PREMIUM 479.5 439.6 -8% DAILY BEAUTY 386.4 389.2 +0.7% 2023 2024 (Unit: bn KRW) • Travel retail channel revenue decreased
Slide 5: FY 2024 Overseas Business
FY 2024 Overseas Business +21% 1,678.9 1,391.8 524.6 +83% Americas 286.7 EMEA 51.8 170.3 +229% Other Asia 357.1 473.9 +33% Greater China* 696.2 510.0 -27% 2023 2024 (Unit: bn KRW) • Americas sales increased by 83% driven by solid sales growth of major brands and consolidation of COSRX - Laneigemaint
Slide 6: 4Q 2024 Revenue
4Q 2024 Revenue Amorepacific revenue up 17.9% to 1.1 trillion KRW Domestic revenue down 2.4%, Overseas revenue up 48.3% with strong revenue growth from Western Region and other Asia (Unit: bn KRW) 2023 4Q % of Revenue 2024 4Q % of Revenue YoY(%) Revenue1) 926.0 100.0 1,091.7 100.0 +17.9 Domestic Bus
Slide 7: 4Q 2024 Operating Profit
4Q 2024 Operating Profit Amorepacific operating profit up 279.6% to 78.5 billion KRW Domestic operating profit down 31% due to decline in Cosmetics business operating profit despite Daily Beauty business profitincrease Overseas operating profit turned to profit with strong sales of major brands in W
Slide 8: 4Q 2024 Income Statement
4Q 2024 Income Statement Gross profit margin enhanced by improving product mix and reducing discounts. Personnel expense up 31% due to incentive provision for domestic business and increased personnel costs for overseas business. Marketing expense down 9% by cost efficient marketing implemented in D
Slide 9: 4Q 2024 Domestic Business
4Q 2024 Domestic Business 296.0 314.8 +6% • Luxuryaccountsfor58%oftotal domesticrevenue -Sulwhasoo31% -Hera13% 2023 4Q 2024 4Q (Unit: bn KRW) • Overall luxury segment revenue posted growth due to reclassification* of domestic cosmetic brands as well as increase in sales of pure domestic channels(exc
Slide 10: 4Q 2024 Domestic Business
4Q 2024 Domestic Business 136.6 -26% 101.6 • Premium accounts for 19% of total domestic revenue -Laneige11% -Aestura5% 2023 4Q 2024 4Q (Unit: bn KRW) • Overall premium segment revenue declined due to reclassification* of domestic cosmetics brand, while sales in major channels (online, multi-brand sh
Slide 11: 4Q 2024 Domestic Business
4Q 2024 Domestic Business 95.7 107.4 • DailyBeautyaccountsfor20%of +12% totaldomesticrevenue -Mise-en-Scène 6% -Ryo 4% -Illiyoon4% 2023 4Q 2024 4Q (Unit: bn KRW) • All majorbrands achieved sales growth resulting from product portfolio reorganization - [Ryo] Strengthened collaborative content with KO
Slide 12: 4Q 2024 Overseas Business
4Q 2024 Overseas Business 229.6 +144% 168.4 +112% 94.2 Americas 79.4 EMEA 61.1 +314% 14.8 2023 4Q 2024 4Q (Unit: bn KRW) • Americas revenue increased112% due to strong performance during major shopping festivals/holiday season and consolidation of COSRX - Achieved record-high sales and strong sales
Slide 13: 4Q 2024 Overseas Business
4Q 2024 Overseas Business 299.8 262.7 +14% 156.5 -9% Greater China* 171.6 Other Asia 143.3 +57% 91.1 2023 4Q 2024 4Q (Unit: bn KRW) Sulwhasoo‘Concentrated Ginseng’ pop-up store Ryo ‘Hair Loss Scalp Care Shampoo’ • Greater China revenue declined 9% in Guangzhou (China) & ‘Super RevitalNutri Care Sham
Slide 14: Financial Summary
Financial Summary Income Statement Statement of Financial Position (Unit: bnKRW, %) (Unit: bn KRW) 2023 2024 2023.12 2024.12 Amount % of Sales Amount % of Sales Assets 5,886.5 6,783.5 Revenue 3,674.0 100.0 3,885.1 100.0 Current Assets 1,952.2 1,734.8 Trade Receivables 292.9 386.3 Cost of Sales 1,155