{"id":11767,"date":"2024-11-07T19:45:52","date_gmt":"2024-11-07T12:45:52","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=11767"},"modified":"2024-11-07T19:45:52","modified_gmt":"2024-11-07T12:45:52","slug":"ktg-posts-q3-revenue-of-krw-1-64-trillion-and-operating-profit-of-krw-415-7-billion-also-promising-additional-shareholder-returns","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=11767","title":{"rendered":"KT&G Posts Q3 Revenue of KRW 1.64 Trillion and Operating Profit of KRW 415.7 Billion, Also Promising Additional Shareholder Returns"},"content":{"rendered":"\n\n\n
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  • Achieved record-high quarterly revenue from the 3 core businesses and the tobacco business, including overseas cigarettes<\/li>\n
  • Also announced the Corporate Value-up Plan, including an additional KRW 150 billion<\/span> share cancellation for 2024 and ROE target of 15% by 2027<\/li>\n<\/ul>\n

    SEOUL, South Korea<\/span><\/span>, Nov. 7, 2024<\/span><\/span> \/PRNewswire\/ — KT&G Corporation (“KT&G” or the “Company”) (KRX:033780), today hosted an earnings conference call and announced its financial results for the third quarter and corporate value-up plan.<\/p>\n

    \n<\/div>\n

    KT&G’s consolidated revenue for the third quarter was KRW 1.636 trillion<\/span>, and operating profit KRW 415.7 billion<\/span>, up 2.2% year-on-year, due to strengthened competitiveness and profitability-oriented management.<\/p>\n

    The growth trend centered on the main business continued in the third quarter. Revenue of the 3 core growth businesses, namely overseas cigarettes, Next Generation Products (NGP), and health-functional foods exceeded KRW 1 trillion<\/span>, achieving the highest-ever quarterly revenue, while the revenue of the tobacco business also reached a record high. Revenue in the tobacco business reached KRW 1.0478 trillion<\/span>, up 7.7% from the same period last year, while operating profit grew 23.6% to KRW 333 billion<\/span>, outpacing the revenue increase.<\/p>\n

    In the tobacco business, growth was particularly strong in overseas cigarettes. In the third quarter, revenue of the overseas cigarette business reached KRW 419.7 billion<\/span>, up 30.5% year-over-year, setting a new record in revenue for two consecutive quarters, while sales volume and operating profit also increased by 10.1% and 167.2%, respectively, achieving “growth trifecta” in sales volume, revenue, and operating profit.<\/p>\n

    On the same day, KT&G also announced an upgraded KT&G Corporate Value-up Plan, which aims to achieve 15% ROE by 2027 and to increase cash returns, and to\u00a0 repurchase and cancel shares.<\/p>\n

    Since the appointment of CEO Kyung Man Bang<\/span> in March, KT&G has been focusing on strengthening its global-oriented intrinsic competitiveness and upgrading the group’s financial structure in order to take a leap to become a ‘Global Top-tier’ company. In particular, the company has been prioritizing the group’s ROE enhancement project, which is based on the three pillars of profitability improvement, asset efficiency, and financial optimization, and plans to achieve ‘15% ROE’ by 2027.<\/p>\n

    Under the new corporate value-up plan, shareholder return will also be expanded in 2024. On this day, KT&G’s board of directors resolved to repurchase 1.35 million shares with KRW 150 billion<\/span> of the financial resources secured through the securitization of non-core and low-yield assets and to cancel them in full within the year.<\/p>\n

    KT&G’s spokesperson said, “We are in full swing in creating results by strengthening our business structure centered on our core business and upgrading our financial structure to become a ‘Global Top-tier’ company.” “We will continue to focus our resources and capabilities on our 3 core businesses to strengthen our intrinsic competitiveness and return the fruits of our achievements to our shareholders to achieve true value-up where corporate value and shareholder value grow together.”<\/p>","protected":false},"excerpt":{"rendered":"

    <\/p>\n\n\n\n
    \"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
      \n
    • Achieved record-high quarterly revenue from the 3 core businesses and the tobacco business, including overseas cigarettes<\/li>\n
    • Also announced the Corporate Value-up Plan, including an additional KRW 150 billion<\/span> share cancellation for 2024 and ROE target of 15% by 2027<\/li>\n<\/ul>\n

      SEOUL, South Korea<\/span><\/span>, Nov. 7, 2024<\/span><\/span> \/PRNewswire\/ — KT&G Corporation (“KT&G” or the “Company”) (KRX:033780), today hosted an earnings conference call and announced its financial results for the third quarter and corporate value-up plan.<\/p>\n

      \n<\/div>\n

      KT&G’s consolidated revenue for the third quarter was KRW 1.636 trillion<\/span>, and operating profit KRW 415.7 billion<\/span>, up 2.2% year-on-year, due to strengthened competitiveness and profitability-oriented management.<\/p>\n

      The growth trend centered on the main business continued in the third quarter. Revenue of the 3 core growth businesses, namely overseas cigarettes, Next Generation Products (NGP), and health-functional foods exceeded KRW 1 trillion<\/span>, achieving the highest-ever quarterly revenue, while the revenue of the tobacco business also reached a record high. Revenue in the tobacco business reached KRW 1.0478 trillion<\/span>, up 7.7% from the same period last year, while operating profit grew 23.6% to KRW 333 billion<\/span>, outpacing the revenue increase.<\/p>\n

      In the tobacco business, growth was particularly strong in overseas cigarettes. In the third quarter, revenue of the overseas cigarette business reached KRW 419.7 billion<\/span>, up 30.5% year-over-year, setting a new record in revenue for two consecutive quarters, while sales volume and operating profit also increased by 10.1% and 167.2%, respectively, achieving “growth trifecta” in sales volume, revenue, and operating profit.<\/p>\n

      On the same day, KT&G also announced an upgraded KT&G Corporate Value-up Plan, which aims to achieve 15% ROE by 2027 and to increase cash returns, and to\u00a0 repurchase and cancel shares.<\/p>\n

      Since the appointment of CEO Kyung Man Bang<\/span> in March, KT&G has been focusing on strengthening its global-oriented intrinsic competitiveness and upgrading the group’s financial structure in order to take a leap to become a ‘Global Top-tier’ company. In particular, the company has been prioritizing the group’s ROE enhancement project, which is based on the three pillars of profitability improvement, asset efficiency, and financial optimization, and plans to achieve ‘15% ROE’ by 2027.<\/p>\n

      Under the new corporate value-up plan, shareholder return will also be expanded in 2024. On this day, KT&G’s board of directors resolved to repurchase 1.35 million shares with KRW 150 billion<\/span> of the financial resources secured through the securitization of non-core and low-yield assets and to cancel them in full within the year.<\/p>\n

      KT&G’s spokesperson said, “We are in full swing in creating results by strengthening our business structure centered on our core business and upgrading our financial structure to become a ‘Global Top-tier’ company.” “We will continue to focus our resources and capabilities on our 3 core businesses to strengthen our intrinsic competitiveness and return the fruits of our achievements to our shareholders to achieve true value-up where corporate value and shareholder value grow together.”<\/p>\n

      <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-11767","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/11767","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11767"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/11767\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}