Korea confectioner Orion records $80 mln Vietnam sales in Q1
Leading Korean confectionery firm Orion recorded a post-tax income of 16.97 billion won ($12.82 million) on a sales revenue of 105.34 billion won ($79.6 million) from its Vietnam operations in the first quarter of this year.
ChocoPie of Orionn is a popular product in Vietnam. Photo courtesy of Bach Hoa Xanh.
According to the firm’s financial results, its Vietnam net income inched down 0.2% year-on-year while sales revenue went up 2.8% thanks to the holiday season in late January.
Regarding sales, pies made up the biggest portion of 43.7% worth 42.5 billion won (32.11 million), down 1% year-on-year. Popular Orion pie products in Vietnam include ChocoPie, Custas, and C’est Bon.
Snacks, including Goute, de Marie, and Marika accounted for the second-biggest portion of 36.5% worth 35.5 billion won ($26.82 million), up 8.4% year-on-year.
With a sales revenue of 10.8 billion won ($8.16 million), biscuits made up the third-biggest portion of 11.1%, rising 2% year-on-year.
Other products included gum and candy with a sales revenue of 4.4 billion won ($3.32 million), up 87.8% year-on-year and accounting for 4.5% of the total, and gift sets with a sales revenue of 3.9 billion won ($2.95 million), down 40.4% and making up 4% of the total.
Besides, Orion in Vietnam posted revenue of 8.1 billion won ($6.12 million) from exports, up 13.2% year-on-year. The main markets included the United Arab Emirates, Mongolia, and Kuwait.
Orion recorded a post-tax income of 82.38 billion won ($62.47 million) on a sales revenue of 472.9 billion won ($358.66 million) from its Vietnam operations in 2022. Sales revenue was up 38.5% year-on-year while post-tax income skyrocketed by 44.7%.
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