KT&G, also known as Korea Tobacco & Ginseng Corporation, has reported a second quarter operating profit of KRW 327.6 billion (USD 249.7 million) in 2022, representing a 1% year-on-year growth.
During the period of April to June, the revenue amounted to 1.42 trillion Korean won, which is a 10.9% increase compared to the same period last year. The net profit also increased by 34% to 330.1 billion Korean won.
The company stated that its sales have grown thanks to active overseas sales and profits from the real estate sector.
The international sales of the company's traditional cigarette business have seen a significant increase of 47.1%, mainly due to the growth in Latin America and other emerging markets, as well as improved sales in Indonesia.
South Korean tobacco company KT&G has increased its market share in the country's heated not burned (HnB) product market from 40.4% in 2021 to 47% in 2022. According to KT&G's data, HnB products now account for 16.7% of all tobacco sales in South Korea.
A company official stated that despite rising interest rates and soaring commodity prices, KT&G's traditional and steam businesses will continue to show strong growth in the coming months.
Statement:
This article is compiled from third-party information and is only intended for industry communication and learning purposes.
This article does not represent the views of 2FIRSTS and 2FIRSTS is unable to confirm the truthfulness or accuracy of the content. The translation of this article is merely intended for industry exchange and research purposes.
As the level of translation may be limited, the translated article may not fully express the original intent. Please refer to the original article for accuracy.
2FIRSTS maintains full consistency with the Chinese government regarding any domestic, Hong Kong, Macau, Taiwan, or foreign-related statements and positions.
The copyright for compiled information belongs to the original media and author. If there is any infringement, please contact us for removal.
Disclaimer
This article is provided solely for professional research, industry discussion, and informational purposes. Any references to brands, companies, products, technologies, or policies are made for factual reporting and analytical purposes only, and do not constitute endorsement, recommendation, promotion, or advertising by 2Firsts.
Nicotine-containing products, including but not limited to cigarettes, e-cigarettes, heated tobacco products, and nicotine pouches, carry significant health risks. Readers are responsible for complying with all applicable laws and regulations in their respective jurisdictions, including age restrictions and access limitations.
The information contained in this article should not be regarded as investment, legal, medical, regulatory, or commercial advice. While 2Firsts strives to ensure the accuracy and reliability of its content, it does not assume liability for any direct or indirect loss arising from errors, omissions, inaccuracies, or reliance on the information contained herein.
This article is not intended for individuals below the legal age for accessing tobacco or nicotine-related information in their jurisdiction.
Copyright Notice
This article is either original content produced by 2Firsts or content reproduced, translated, summarized, or adapted from third-party sources with attribution where applicable. The intellectual property rights of the original content remain with 2Firsts or the respective original rights holders.
No individual or organization may copy, reproduce, distribute, republish, modify, translate, or otherwise use this content without prior authorization. Any unauthorized use may result in legal action.
For copyright-related inquiries, corrections, or removal requests, please contact: info@2firsts.com.
AI-Assisted Translation and Editing Notice
Portions of this article may have been translated, edited, or reviewed with the assistance of artificial intelligence tools to improve efficiency and readability. Due to the limitations of AI-assisted translation and editing, discrepancies, omissions, or inaccuracies may exist when compared with the original source.
Where applicable, readers are advised to refer to the original source for the most complete and accurate information. If you identify any errors or believe that any content infringes upon your rights, please contact us at info@2firsts.com, and we will review and address the matter promptly.
