[Edaily Reporter KYUNG GYEYOUNG ] SILICON 2 Co.,Ltd. posted second-quarter earnings that exceeded market expectations, driven by the K-Beauty boom.

SILICON 2 Co.,Ltd.(257720)The company announced on the 12th that its consolidated operating profit for the second quarter was 83 billion won, a 59.0% increase compared to the same period last year. Preliminary figures for the same period show revenue rose 51.8% to 402.6 billion won, while net income increased 103.2% to 72.3 billion won.

These results exceeded the average consensus estimates (consensus) compiled by FnGuide Inc., which projected revenue of 380.7 billion won and operating profit of 71.3 billion won.

SILICON 2 Co.,Ltd. is a company that distributes K-Beauty products through wholesale and retail channels in 175 countries worldwide. As K-Beauty gains popularity overseas, SILICON 2 Co.,Ltd. continues to see growth in both revenue and profitability.

According to SILICON 2 Co.,Ltd., North America posted a higher regional growth rate than Europe in the second quarter. Sales are also reportedly gaining momentum in Central and South America, particularly in Mexico, where the company recently established a subsidiary.

Park Jong-dae, an analyst at Hana Securities, stated, “The company is building a logistics center in the UK to meet European demand, and in North America, demand from retailers to build up inventory in preparation for large-scale events at the end of the year is expected to increase significantly.” He added, “The peak season effect is likely to be even stronger in the third quarter than in the second quarter.”