External broker reports(aggregated public sources), Daishin Securities

Daishin Securities

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External broker reports(aggregated public sources)

Samyang Foods: Block Deal Sale of 103 Billion Won of Treasury Shares

Equity Bottom-Up

<ul><li>4Q24 revenue and OP came in at W480.8bn and W87.3bn, respectively (OPM 18.2%) </li><li>Revenue grew 10% QoQ, but profitability weakened on one-off marketing cost increase</li><li>The noodle maker remains our top pick in the F&amp;B sector, given its unwavering growth potential</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

4Q24 revenue and OP came in at W480.8bn and W87.3bn, respectively (OPM 18.2%) Revenue grew 10% QoQ, but profitability weakened on one-off marketing cost increaseThe noodle maker remains our top pick in the F&amp;B sector, given its unwavering growth potentialContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Samyang Foods (003230 KS Feb 6, 2025) - Growth Potential Reaffirmed