d'Alba Global (483650) Q2 2026 earnings summary

Executive summary

• Achieved record-high quarterly revenue of KRW 186.9 billion in Q2 FY2026, up 46% YoY and 9% QoQ, with operating profit of KRW 47.2 billion, up 62% YoY.

• Overseas revenue proportion reached a record 76%, with strong growth in North America, Europe, and ASEAN, and 38 consecutive quarters of YoY sales growth.

• Operates premium vegan cosmetics (d'Alba), health functional foods (Veganery), and home beauty devices, focusing on global expansion and innovation.

• Listed on KOSPI in May 2025; major shareholder is CEO Ban Sung-yeon with 18.2% stake as of June 2026.

• Expanded overseas subsidiaries in Russia, Japan, USA, and China, all 100% owned.

Financial highlights

• Operating profit margin (OPM) was 25.3% in Q2 FY2026, up from 22.8% in Q2 FY2025; net profit margin reached 20%.

• COGS ratio increased slightly to 23.2%; SG&A ratio improved to 51.5%, down 3.2pp YoY.

• First half 2026 consolidated revenue: KRW 358.1 billion; operating profit: KRW 92.3 billion; net income: KRW 74.4 billion.

• Basic EPS for 2026 H1: KRW 5,992; diluted EPS: KRW 5,806.

• Cash and cash equivalents at June 2026: KRW 92.7 billion; total assets: KRW 339.9 billion; equity: KRW 251.8 billion.

Outlook and guidance

• Q3 2026 revenue expected at KRW 170 billion with 21% OPM; annual guidance raised to KRW 725 billion revenue and 21% OPM.

• Plans to maintain a dividend payout ratio of 25% (including treasury share buybacks and cancellations) for 2026–2028.

• Focus on expanding global sales channels, especially in the US, Japan, and Europe, and continued investment in R&D for new functional ingredients and beauty devices.

• Continued focus on global expansion, especially in emerging markets like India and the Middle East.

• Macro uncertainties (war, oil prices, K-beauty search trends) incorporated into guidance.