South Korean cosmetics manufacturer COSMAX achieved its highest quarterly performance ever, largely driven by the global K-beauty trend. The company announced a 11.7% increase in sales and a 13.0% increase in operating profit compared to the previous year, beating market expectations. Domestic indie brands saw increased exports, while sales in Southeast Asian branches like Indonesia and Thailand surged, particularly in sun protection products. COSMAX also introduced innovative products featuring functional ingredients like PDRN and Tranexamic Acid. Foreign subsidiaries contributed to record growth, with increased economic capabilities boosting demand in Southeast Asia. COSMAX plans to build new factories in Thailand and Indonesia to sustain growth. However, U.S. performance declined due to delayed sales reflection from new clients. Overall net profit fell by 45% due to various financial adjustments and increased corporate tax expenses.
