Korea Tobacco Company Releases Its 2024 Financial Report

Since 2000, the Korea Tobacco Company has been continuously expanding its global market. In recent years, it has successively established subsidiaries in Indonesia, Turkey, Kazakhstan, Uzbekistan and other countries. Its overseas cigarette and new tobacco business has become an important support for the growth of its revenue and net profit.
The Korea Tobacco Company recently released its 2024 financial report. In the fourth quarter of last year, the company's revenue was 1.5571 trillion won, and its profit was 208.5 billion won, increasing by 8% and 5.3% respectively year-on-year. In 2024, the company's revenue reached 5.9095 trillion won, increasing by 0.8% year-on-year and reaching a company record high, and its profit reached 1.1848 trillion won, increasing by 1.5% year-on-year.
Since March last year when Byung Kyung-man became the president of the Korea Tobacco Company, the company has been committed to strengthening its core competitiveness and optimizing its financial structure to achieve balanced development. The tobacco business of the company performed particularly well last year. In the fourth quarter of last year, the company's tobacco business revenue was 786 billion won, increasing by 13.2% year-on-year. In 2024, the company's tobacco business revenue reached 3.9063 trillion won, increasing by 8.1% year-on-year; its operating profit was 1.0815 trillion won, increasing by 10.7% year-on-year.
It is worth noting that the global sales volume of the company's cigarettes increased by 10.3% year-on-year last year, setting a new record high; global cigarette sales revenue increased by 28% year-on-year to 1.4501 trillion won, breaking the historical record; profitability significantly improved, with a profit increase of 84.2% year-on-year.

In the field of next-generation tobacco products, the sales volume of the company's electronic cigarettes has maintained a growth momentum in both domestic and overseas markets. Last year, the sales volume of the company's heated cigarette products reached 6.15 billion units in the domestic market, increasing by 7.7% year-on-year; and 8.34 billion units in the overseas market, increasing by 1.5% year-on-year.
This year, the Korean Tobacco Company plans to build a production system that focuses more on cost-effectiveness and a financial strategy oriented towards profitability, to enhance the competitive advantage of its core tobacco business. The company's goal for this year is to achieve a 5% increase in revenue and a 6% increase in profit.
A relevant person from the company said: "Driven by the good development of the tobacco business, 2024 will be a year for the growth of the sales and operating profit of the Korean Tobacco Company. In 2025, there will be more uncertainties in both domestic and overseas markets. We will vigorously expand the global market, strengthen competitiveness, maintain a good development momentum, implement the value enhancement plan, and do our best to bring more benefits to shareholders."