- Record annual revenue: parallel revenue and operating profit growth through profitability turnaround
- All-time high performance in Europe and other global locations, heightened core competitiveness based on profit-centered qualitative growth
SEOUL, South Korea, Feb. 18, 2025 /PRNewswire/ -- KT&G Corporation (KRX: 033780) ("KT&G" or the "Company") reported its 2024 full-year results, announcing a KRW 5.91 trillion revenue and KRW 1.185 operating profit. KT&G's revenue grew 0.8% year on year, marking a new record for the Company, while operating profit saw an even higher growth of 1.5% YoY, owing to heightened core business profitability and financial structure optimization.
KT&G's 2024 performance was towed by the record-breaking performance of the global cigarette segment. KT&G saw an all-time high global sales volume, which grew 10.3% YoY, owing to the sales growth focused around the flagship brand ESSE. The sales volume growth was seen in Europe as well as across the globe, even in markets KT&G entered in 2024, including Romania, Spain, Portugal, and Andorra. The revenue rose 28% YoY based on the sales volume growth, and operating profit jumped 84.2% YoY, strengthening qualitative growth.
KT&G plans to continue its business performance trend in 2025 by reinforcing its core business competitiveness centered around global operations. For further global expansion, KT&G established offices and corporations in 10 worldwide locations including Europe, Indonesia, Taiwan, Russia, and Kazakhstan; employs 5,463 members across 148 countries. KT&G aims to broaden market reach in Europe within the year, further accelerating its leap to a "Global Top-tier."
The financial market's outlook is also positive. HSBC, a global investment bank, forecasts that KT&G's strong overseas combustible tobacco product sales trend should continue thanks to the market expansion, going on to recommend a "buy." The Hong Kong-based global investment group CLSA states that KT&G's growth "trend will continue as the company has been active in channel expansion and entering new markets." CLSA has maintained an "outperform" rating for KT&G.
KT&G is a leading Korean company, holding a firm number one position in the domestic combustible cigarettes, smoke-free product NGP(Next Generation Products), and health functional food markets. KT&G received an AA MSCI ESG rating, a top-level rating in the sector, for four consecutive years; the global capital market company MSCI has since categorized KT&G as a "ESG Leader." KT&G was also included in the top Dow Jones Sustainability Indices(DJSI) tier, the "DJSI World Index," firmly instating itself as a leading ESG company. Additionally, global credit rating companies recognize KT&G's financial stability; S&P and Moody's awarded "A- (Stable)" and "A3 (Stable)" ratings, respectively.
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