AmorePacific Group, Inc.
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Company Background
AmorePacific Group, the largest cosmetics producer in South Korea, has seen its sales growing in China and Southeast Asia on the back of hallyu, the "Korean wave" of pop culture. To keep up with rising demand, the company built a state-of-the-art factory in China that has an annual production capacity of 13,000 tons. The plant began operating in 2014. AmorePacific aims to become Asia's top cosmetics maker with sales of 12 trillion won by 2020.
The company's global sales come largely from five main brands: Sulwhasoo, Laneige, Innisfree, Etude and Mamonde. Its luxury lines, including Sulwhasoo, are particularly popular among tourists visiting South Korea from abroad. This has contributed to higher sales at duty-free shops.
AmorePacific produces its midtier brands, including Mamonde, at its new factory in China, though it continues to export its high-end products from South Korea. In addition to its existing sales channels, such as department stores and hypermarkets, the company is also focusing on online sales. The company improved its distribution system in China in time for the startup of the new factory, reducing delivery times for shipments to any part of the country.
AmorePacific was founded in 1945. Chairman Suh Kyung-bae, a member of the company's founding family, earned an MBA from Cornell University in the U.S. His understanding of overseas strategy can be seen in how he rebuilt the group's French subsidiary. Robust growth in purchases by foreign tourists has boosted AmorePacific's market capitalization dramatically. As a result, Suh, the company's largest shareholder, is known as one of the richest men in South Korea.
Business Summary
Financial Highlights
Dec 2021 | KRW | USD |
Revenue | 5,326.08B | 4,650.95M |
Gross Profit | 3,538.41B | 3,089.88M |
Operating income | 356,171.27M | 311.02M |
Income before tax | 423,914.06M | 370.17M |
Net income | 179,995.03M | 157.17M |
EBITDA | 770,639.27M | 672.95M |
Diluted EPS | 1,988.57 | 1.73 |
Dividends Per Share | 450 | 0.39 |
Total Assets | 8,038.14B | 6,761.84M |
Total liabilities | 1,562.51B | 1,314.42M |
Total equity | 3,306.53B | 2,781.52M |
Operating cash flow | 763,409.42M | 666.64M |
Currency in KRW | Currency in USD |
Historical Data
Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
Revenue | 6,029.06B | 6,078.17B | 6,284.25B | 4,930.08B | 5,326.08B |
Gross Profit | 4,237.12B | 4,251.57B | 4,170.25B | 3,122.40B | 3,538.41B |
Operating income | 731,492.19M | 549,473.51M | 498,249.81M | 150,661.04M | 356,171.27M |
Income before tax | 697,212.72M | 533,901.07M | 430,717.08M | 29,907.75M | 423,914.06M |
Net income | 202,614.25M | 142,286.12M | 133,732.55M | 10,381.31M | 179,995.03M |
EBITDA | 999,788.19M | 860,037.51M | 1,076.19B | 684,632.04M | 770,639.27M |
Diluted EPS | 2,433 | 1,708.32 | 1,444.86 | 74.54 | 1,988.57 |
Dividends Per Share | 360 | 310 | 300 | 230 | 450 |
Total Assets | 7,335.23B | 7,387.37B | 8,281.39B | 7,788.74B | 8,038.14B |
Total liabilities | 1,403.26B | 1,144.90B | 1,801.24B | 1,516.70B | 1,562.51B |
Total equity | 2,997.27B | 3,118.83B | 3,367.32B | 3,249.54B | 3,306.53B |
Operating cash flow | 592,284.56M | 731,837.84M | 831,147.66M | 667,033.61M | 763,409.42M |
Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | |
Revenue | 5,333.04M | 5,523.01M | 5,388.73M | 4,178.43M | 4,650.95M |
Gross Profit | 3,747.97M | 3,863.25M | 3,575.98M | 2,646.36M | 3,089.88M |
Operating income | 647.04M | 499.28M | 427.24M | 127.69M | 311.02M |
Income before tax | 616.72M | 485.13M | 369.33M | 25.34M | 370.17M |
Net income | 179.22M | 129.29M | 114.67M | 8.79M | 157.17M |
EBITDA | 884.36M | 781.48M | 922.83M | 580.25M | 672.95M |
Diluted EPS | 2.15 | 1.55 | 1.23 | 0.06 | 1.73 |
Dividends Per Share | 0.31 | 0.28 | 0.25 | 0.19 | 0.39 |
Total Assets | 6,851.83M | 6,620.69M | 7,161.04M | 7,169.97M | 6,761.84M |
Total liabilities | 1,310.78M | 1,026.08M | 1,557.56M | 1,396.20M | 1,314.42M |
Total equity | 2,799.75M | 2,795.15M | 2,911.77M | 2,991.38M | 2,781.52M |
Operating cash flow | 523.90M | 664.99M | 712.70M | 565.33M | 666.64M |
Valuation Measures
Dec 2021 | |
PER | 22.29 |
ROA | 2.27% |
ROE | 5.49% |
Operating margin | 6.68% |
Profit margin | 3.37% |
Key executives
- Chairman & Co-Chief Executive Officer: Kyung-Bae Suh
- Co-Chief Executive Officer, Director & VP: Seung-Hwan Kim
- Head-Compliance Support: Jae-Sung Ahn
Shareholders
- SUH KYUNG-BAE (53.7%)
- National Pension Service of Korea (7.0%)
- AmorePacific Group, Inc. (6.1%)
- SUH MIN-JUNG (2.9%)
- Sungwhan Welfare Fund (2.7%)
- Amorepacific Welfare Foundation (1.7%)
- Fidelity Management & Research Co. LLC (1.0%)
- The Vanguard Group, Inc. (0.8%)
- Amorepacific Foundation (0.5%)
- Mirae Asset Global Investments Co., Ltd. (0.5%)
Contact Details
- Website:http://www.apgroup.com
- Address: 100 Hangang-daero, Yongsan-gu, Seoul, 04386, South Korea
- Phone: +82.2.6040.5114
Related Companies
- Pacific Glass Co., Ltd.
- Core Technology Corp. (South Korea)
- AMOREPACIFIC Hong Kong Co., Ltd.
- AMOREPACIFIC Singapore Pte Ltd.
- Espoir Corp.
- Amorepacific Ventures
- Innisfree Corp.
- AMOREPACIFIC Taiwan Co., Ltd.
- Amorepacific Cosmetics (Shenyang) Co., Ltd.
- AMOREPACIFIC Trading Co., Ltd.
- Etude Corp.
- Astra Co., Ltd.
- AMOS Professional Corp.
- Pacific Europe SA
- Pacific Pharmaceutical Co., Ltd.
Competitors
- TONYMOLY Co., Ltd.
- Hankook Cosmetics Co., Ltd
- Onion Global Ltd. Sponsored ADR Class A
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