KT&G
KT&G: News
August 2026: Supreme Court Ends Patent Dispute Between KT&G and EM-Tech; KT&G Asserts ‘No Impact’ on Next Generation Products A multi-year intellectual property legal battle between KT&G and electronic device manufacturer EM-Tech over heated tobacco technologies has officially concluded. The Supreme Court of Korea dismissed the final appeals from both
Credit Ratings: KT&G
August 2026: S&P Global Ratings Re-affirms KT&G’s Credit Rating at “A-” with Outlook Stable S&P Global Ratings has reaffirmed its A- long-term issuer credit rating for KT&G Corporation with a Stable outlook. The rating reflects KT&G’s dominant position in the South Korean domestic tobacco market, reliable cash flow, and strong
KT&G: Q2 2026
Executive Summary KT&G Corporation delivered a profit-led Q2 2026 beat, characterized by double-digit operating profit expansion that outpaced top-line growth across all core operating divisions. Consolidated revenue grew 9.9% YoY to ₩1.7016 trillion (consensus: ₩1.67 trillion), while operating profit surged 18.5% YoY to ₩414.5 billion. Net income jumped 152.3% YoY
KT&G: Portfolio Strategy
KT&G: Global Expansion and Portfolio Diversification Drive Structural Revenue Shifts KT&G’s operational model relies on two primary revenue pillars: the traditional combustible cigarette brand ‘ESSE’ and the Next Generation Product (NGP) heated tobacco platform ‘lil’. While ESSE establishes a mature, highly cash-generative foundation across domestic and international markets, the NGP
KT&G: Business Outlook
May 2026: Closing the Global Peer Discount via Operational Acceleration and Gold-Standard Capital Returns KT&G is undergoing a profound qualitative transformation, successfully transitioning from a historically undervalued domestic monopoly into a high-growth global consumer player. Driven by its three core growth engines – overseas tobacco, Next Generation Products (NGPs), and
KT&G: Q1 2026 Results
KT&G posted strong first quarter results, with consolidated revenue rising 14.3% YoY to ₩1.70 trillion and operating profit increasing 27.6% YoY to ₩364.5 billion. Net income rose 46.6% YoY to ₩378.2 billion, while EBITDA increased 25.0% YoY to ₩442.7 billion, reflecting strong operational leverage and a significantly improved earnings mix.
KT&G: FY25 Results
Q4 2025 & FY25 Results Revenue: ₩1.71Tn in Q4 (+10.1% year-on-year), ₩6.58Tn in FY25 (+11.4%) EBITDA: ₩325.8Bn in Q4 (+17.7%), ₩1.64Tn in FY25 (+14.1%) EBITDA Margin: 19% in Q4 (+1.2pp), 24.9% in FY25 (+0.5pp) Operating Profit: ₩248.8Bn in Q4 (+17.1%), ₩1.35Tn in FY25 (+13.5%) Net Income: ₩274.2Bn in Q4 (-15.3%),
PMI – KT&G Partnership
December 2025: Philip Morris International – KT&G Partership Agreement is revised KT&G announced that it revised the key contractual terms related to its 15-year long-term partnership with Philip Morris International (PMI). The first 3-year period (2023-25) of the agreement, with a minimum guaranteed sales quantity of 16 billion sticks (for
KT&G: Q3 2025 Results
Q3 2025 Results “Double-digit revenue and operating profit growth, mainly driven by the international cigarette division”s Revenue: ₩1.83 trillion (+11.6% year-on-year) => record-high quarterly revenue, driven by international cigarette segment and higher real estate development income EBITDA: ₩540.5 billion (+12.3%); EBITDA Margin: 29.6% (+0.2pp) Operating Profit: ₩465.3 billion (+11.4%), driven
KT&G: Q2 2025 Results
Q2 2025 Results “Solid financial delivery, driven by the international cigarette division” Revenue: ₩1.55 trillion (+8.7% year-on-year) => record-high first half revenue, surpassing ₩3 trillion for the first-time, driven by international cigarette segment and higher real estate development income EBITDA: ₩421 billion (+9.7%) EBITDA Margin: 27.2% (+0.3pp) Operating Profit: ₩349.8
KT&G: Q1 2025 Results
Q1 2025 Results “Solid financial delivery, driven solely by the international cigarette division. Problems persist elsewhere ” Revenue: ₩1.49 trillion (+15.4% year-on-year) => record-high quarterly revenue from international cigarette segment (+23.3% volume growth, +53.9% revenue growth) EBITDA: ₩354.3 billion (+19.1%) EBITDA Margin: 23.8% (+0.8pp) Operating Profit: ₩285.6 billion (+20.7%; adjusted
KT&G: Manufacturing
Three key trends force tobacco companies to continuously re-assess and optimize their manufacturing footprint: (1) Cost savings: Transferring labor intensive operations to lower-cost countries within a certain geography (2) Geographical re-balancing: Fast-declining cigarette volume in the Western markets vs. Stable (even, increasing) cigarette volume in the emerging markets (especially, in
KT&G: FY24 Results
Q4 2024 & FY24 Results Revenue: ₩1.56Tn in Q4 (+8.0% year-on-year), ₩5.91Tn in FY24 (+0.8%) EBITDA: ₩272.8Bn in Q4 (+5.0%), ₩1.435Tn in FY24 (+1.9%) EBITDA Margin: 17.5% in Q4 (-0.5pp), 24.3% in FY24 (+0.3pp) Operating Profit: ₩208.5Bn in Q4 (+5.3%), ₩1.18Tn in FY24 (+1.5%) Net Income: ₩301.7Bn in Q4 (+167.2%),
KT&G: Q2 2024 Results
Q2 2024 Results Revenue: ₩1.42Tn (+6.6% year-on-year) EBITDA: ₩383.1Bn (+25.4%); EBITDA Margin: 26.9% (+4.0pp) Operating Profit: ₩321.5Bn (+30.6%) Net Income: ₩318.0Bn (+57.5%); EPS: ₩2,754 (+59.5%) Shareholder returns: Interim dividend of ₩1,200 will be paid in Aug 2024. Total FY24 dividend will be more than ₩5,200 (FY23 dividend). Total 5.3% of
KT&G: Q1 2024 Results
Q1 2024 Results “Delivers gloomy results, promises earnings turnaround in the second half” Revenue: ₩1.29Tn (-7.4% year-on-year) => decline driven by the weakness in Health-Functional Food (HFF) and Real Estate businesses, tobacco revenue flattish EBITDA: ₩297.4Bn (-20.8%) EBITDA Margin: 23% (-3.9pp) Operating Profit: ₩236.6Bn (-25.2%) => in addition to the
KT&G: FY23 Results
Q4 2023 & FY23 Results Revenue: ₩1.45Tn in Q4 (+3.2% year-on-year), ₩5.87Tn in FY23 (+0.4%) EBITDA: ₩260.3Bn in Q4 (-0.6%), ₩1.41Tn in FY23 (-5.6%) EBITDA Margin: 17.9% in Q4 (-0.7pp), 24.0% in FY23 (-1.5pp) Operating Profit: ₩198.6Bn in Q4 (-1.4%), ₩1.17Tn in FY23 (-7.9%) Net Income: ₩117.1Bn in Q4 (—),
Share Buybacks: KT&G
November 2023 At the 2023 Investor Day, KT&G announced the plan to buy back ₩1Tn worth of stocks and cancel 15% of its outstanding shares (i.e. 7.5% new purchases + 7.5% existing treasury shares) in the 2024-26 period. This is a major step-up in share re-purchase & cancellation as KT&G
KT&G: Q3 2023 Results
Q3 2023 Results1 Despite reporting its highest-ever quarterly revenue (₩1.69Tn; +4% year-on-year) in Q3 2023, KT&G’s operating profit increased only marginally (+0.4% to ₩406.7Bn) due to persistent cost headwinds. Results: Tobacco Division Key announcement highlights (for the tobacco business only): – Revenue +3% to ₩972.7Bn; Operating Profit +0.6% to ₩269.4Bn
KT&G: FY22 Results & Key Developments
In FY22, KT&G posts record earnings, largely on upbeat sales of heat-not-burn tobacco products in Korea & overseas. Total cigarette and HnB volume reaches 101.5Bn (up +16.5%) and, consequently, KT&G moves above Altria to become world’s 5th largest tobacco company (ex-China). For the tobacco business only, excluding KGC (Korea Ginseng
