2025. 2. 13. 15:11ㆍKorean Economy
Orion set a new milestone last year by surpassing 500 billion KRW in operating profit for the first time since its founding.
On the 11th, Orion announced its financial results for 2023, reporting revenue of 3.1043 trillion KRW and an operating profit of 543.6 billion KRW. This represents a 6.6% increase in revenue and a 10.4% growth in operating profit compared to the previous year. Net income reached 533.2 billion KRW, reflecting a 38.5% year-on-year increase. The group's net cash holdings now stand at 1.6 trillion KRW.
Despite prolonged global economic downturns and rising raw material costs, such as cacao and sugar, Orion’s strong performance was driven by robust overseas business growth in China, Vietnam, and Russia.
Performance by Region
In South Korea, revenue grew 2.6% to 1.0976 trillion KRW, while operating profit increased 5.7% to 178.5 billion KRW. Overseas dividend income of 237.8 billion KRW from Orion’s Chinese and Vietnamese subsidiaries contributed to a pre-tax net income of 402.4 billion KRW.
Orion plans to expand exports in response to the global K-food trend, targeting markets in the U.S., China, Australia, and Europe. To support this growth, the company will break ground this year on a new integrated production, packaging, and logistics center at the Jincheon Technopolis Industrial Complex in North Chungcheong Province, covering 185,000 square meters. This facility will serve as a key hub for both domestic and international supply expansion.
In China, Orion’s revenue rose 7.7% to 1.2701 trillion KRW, while operating profit grew 10.4% to 243.9 billion KRW, fueled by expansion in snack shops and bulk sales channels. With the restructuring of its indirect sales system completed last year, Orion aims to launch competitive new products and enhance existing ones to drive further growth.
In Vietnam, Orion recorded 8.2% revenue growth, reaching 514.5 billion KRW, while operating profit climbed 14.4% to 100.1 billion KRW. This success was attributed to aggressive new product launches and increased sales of gift-set pies and An rice snacks.
In Russia, Orion expanded production and distribution, driving revenue up 15.1% to 230.5 billion KRW and operating profit up 15% to 36.9 billion KRW. When measured in Russian rubles, revenue and operating profit increased 20.7% and 20.4%, respectively, marking the sixth consecutive year of double-digit growth.
Dividend Increase
During its board meeting, Orion decided to double its dividend per share from 1,250 KRW to 2,500 KRW, which represents 26% of the company’s consolidated net income (excluding one-time extraordinary gains or losses). Meanwhile, Orion Holdings, the company’s parent, increased its dividend from 750 KRW to 800 KRW per share. This results in a dividend yield of approximately 5%, higher than the current market interest rate of around 3%. The record date for Orion and Orion Holdings' dividends is February 28.
An Orion spokesperson stated, "As a global company with overseas revenue accounting for 65% of total sales, we will continue strengthening our market dominance abroad and expanding exports to further grow our international presence."