LG H&H reported that its first-quarter performance recorded sales of 1.6979 trillion won and an operating profit of 142.4 billion won on the 28th. Compared to the same period last year, sales decreased by 1.8% and operating profit declined by 5.7%.
The institutional sector of beauty recorded sales of 708.1 billion won and an operating profit of 58.9 billion won. These figures represent decreases of 3.4% and 11.2%, respectively, compared to the same period last year. While both domestic and international key channels showed growth, the so-called "traditional channels," such as duty-free shops and direct sales, were sluggish, leading to a decline in revenue and profitability, the company explained.
The HDB (Home Care & Daily Beauty) institutional sector's first-quarter performance recorded sales of 573.3 billion won and an operating profit of 36.6 billion won. These figures increased by 2.2% and 13.7%, respectively, compared to the same period last year.
Sales of 708.1 billion won, which decreased by 3.4%, and an operating profit of 58.9 billion won, which declined by 11.2%, were recorded. This was influenced by increased sales volumes in the overseas market for daily beauty premium brands such as Physiogel, U.C.Mol, and Dr. Groot.
The Refreshment institutional sector recorded sales of 414.6 billion won and an operating profit of 46.9 billion won. Sales decreased by 4.1% and operating profit saw a drop of 10.8% compared to the same period last year. As economic recession slowed overall beverage consumption, rising costs from raw materials continued to impact both sales and operating profit.
A representative from LG H&H noted that they are strengthening competitiveness by expanding products that align with market trends to reach diverse customer bases both domestically and internationally. They emphasized that they will enhance market response through tailored marketing strategies for each distribution channel and seek growth through product development that offers differentiated customer experiences.