On the 13th, the cosmetics Original Design Manufacturer (ODM) corporation COSMAX announced that its first-quarter performance has been provisionally recorded at revenue of 588.6 billion won and operating profit of 51.3 billion won. Compared to the same period last year, revenue increased by 11.7% and operating profit rose by 13%.
The Korean corporation drove the overall performance. The Korean corporation's revenue was 362.8 billion won, an increase of 15% compared to the same period last year. Operating profit was 34.3 billion won, up 14% from the previous year.
Corporations in Southeast Asia, including Indonesia and Thailand, recorded significant growth rates. The revenue from the Indonesian corporation was 29.6 billion won, a 22.8% increase from the previous year, while net profit rose by 18.2% to 2.7 billion won. The Thai corporation recorded first-quarter revenue of 23.9 billion won, a 152.1% increase compared to last year's first quarter, and net profit transitioned to the black at 2.1 billion won.
COSMAX plans to continuously expand its market position by constructing new factories in alignment with growth in the Southeast Asian market. A new factory is currently under construction in Thailand, with a goal of commencing full operations in September 2026. A new factory is also planned for Indonesia.
The Chinese corporation recorded revenue of 162.7 billion won, a 3.4% increase compared to the same period last year, thanks to a recovery in the local cosmetics market. The U.S. corporation's revenue was tallied at 28.7 billion won, down 26% from the same period last year due to delays in reflecting revenue from new clients.