Announcement • Feb 26
FOODWELL Co., Ltd., Annual General Meeting, Mar 31, 2026 FOODWELL Co., Ltd., Annual General Meeting, Mar 31, 2026, at 11:00 Tokyo Standard Time. Location: conference room, 121, seongseoseo-ro, dalseo-gu, daegu South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩125 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 08 April 2026. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 2.0%. Lower than top quartile of South Korean dividend payers (3.6%). In line with average of industry peers (1.9%). New Risk • Nov 14
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 48% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (13% average weekly change). Minor Risks High level of debt (48% net debt to equity). Market cap is less than US$100m (₩59.1b market cap, or US$40.6m). Reported Earnings • Nov 14
Third quarter 2025 earnings released: EPS: ₩318 (vs ₩367 in 3Q 2024) Third quarter 2025 results: EPS: ₩318 (down from ₩367 in 3Q 2024). Revenue: ₩81.7b (up 14% from 3Q 2024). Net income: ₩3.00b (down 13% from 3Q 2024). Profit margin: 3.7% (down from 4.8% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₩6,270, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 10x in the Food industry in South Korea. Total returns to shareholders of 15% over the past three years. Declared Dividend • Nov 08
Dividend of ₩125 announced Dividend of ₩125 is the same as last year. Ex-date: 29th December 2025 Payment date: 8th April 2026 Dividend yield will be 1.7%, which is lower than the industry average of 2.0%. Sustainability & Growth Dividend is well covered by both earnings (13% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 13% per year over the past 6 years and payments have been stable during that time. Earnings per share has grown by 24% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 07
FOODWELL Co., Ltd. announces Annual dividend, payable on April 08, 2026 FOODWELL Co., Ltd. announced Annual dividend of KRW 125.0000 per share payable on April 08, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Oct 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Market cap is less than US$100m (₩89.6b market cap, or US$62.2m). Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩9,500, the stock trades at a trailing P/E ratio of 10.1x. Average trailing P/E is 10x in the Food industry in South Korea. Total returns to shareholders of 82% over the past three years. New Risk • Aug 30
New minor risk - Financial data availability Less than 3 years of financial data is available. This is considered a minor risk. If the company has been trading for less than 3 years, then it has not had the opportunity to establish a long-term track record. This makes it difficult for investors to assess the true growth potential, sustainability and resilience of the business under different economic conditions. Currently, the following risks have been identified for the company: Minor Risks Less than 3 years of financial data is available. Share price has been volatile over the past 3 months (9.7% average weekly change). Market cap is less than US$100m (₩67.1b market cap, or US$48.4m). Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩7,410, the stock trades at a trailing P/E ratio of 10.3x. Average trailing P/E is 11x in the Food industry in South Korea. Total returns to shareholders of 22% over the past three years. Announcement • Jul 22
FOODWELL Co., Ltd. (KOSDAQ:A005670) agreed to acquire remaining 30% stake in Cosfarm Co., Ltd. from Kim Han-cheol, Kim Sang-myeong, Kim Jin- cheol and Lee Hyeong-chan for KRW 10.9 billion. FOODWELL Co., Ltd. (KOSDAQ:A005670) agreed to acquire remaining 30% stake in Cosfarm Co., Ltd. from Kim Han-cheol, Kim Sang-myeong, Kim Jin- cheol and Lee Hyeong-chan for KRW 10.9 billion on July 21, 2025. Upon completion, FOODWELL Co., Ltd. will own 100% stake in Cosfarm Co., Ltd.
The expected completion of the transaction is August 4, 2025. Reported Earnings • May 21
First quarter 2025 earnings released: EPS: ₩189 (vs ₩244 in 1Q 2024) First quarter 2025 results: EPS: ₩189 (down from ₩244 in 1Q 2024). Revenue: ₩69.8b (up 7.8% from 1Q 2024). Net income: ₩1.78b (down 22% from 1Q 2024). Profit margin: 2.6% (down from 3.5% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 27
Full year 2024 earnings released: EPS: ₩774 (vs ₩671 in FY 2023) Full year 2024 results: EPS: ₩774 (up from ₩671 in FY 2023). Revenue: ₩273.0b (up 20% from FY 2023). Net income: ₩7.30b (up 15% from FY 2023). Profit margin: 2.7% (down from 2.8% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩5,070, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 9x in the Food industry in South Korea. Total loss to shareholders of 25% over the past three years. Announcement • Feb 26
FOODWELL Co., Ltd., Annual General Meeting, Mar 31, 2025 FOODWELL Co., Ltd., Annual General Meeting, Mar 31, 2025, at 11:00 Tokyo Standard Time. Location: conference room, 121, seongseoseo-ro, dalseo-gu, daegu South Korea Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩6,160, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 8x in the Food industry in South Korea. Total loss to shareholders of 4.0% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩90.00 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 09 April 2025. Payout ratio is a comfortable 8.1% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (1.9%). Declared Dividend • Nov 21
Dividend of ₩90.00 announced Shareholders will receive a dividend of ₩90.00. Ex-date: 27th December 2024 Payment date: 9th April 2025 Dividend yield will be 1.7%, which is lower than the industry average of 2.0%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (6% cash payout ratio). The dividend has increased by an average of 8.4% per year over the past 5 years and payments have been stable during that time. The company's earnings per share (EPS) would need to decline by 91% to shift the payout ratio to a potentially unsustainable range, which is more than the 20% EPS decline seen over the last 5 years. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ₩367 (vs ₩107 in 3Q 2023) Third quarter 2024 results: EPS: ₩367 (up from ₩107 in 3Q 2023). Revenue: ₩71.8b (up 27% from 3Q 2023). Net income: ₩3.46b (up 244% from 3Q 2023). Profit margin: 4.8% (up from 1.8% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • May 19
First quarter 2024 earnings released: EPS: ₩244 (vs ₩128 in 1Q 2023) First quarter 2024 results: EPS: ₩244 (up from ₩128 in 1Q 2023). Revenue: ₩64.8b (up 23% from 1Q 2023). Net income: ₩2.30b (up 89% from 1Q 2023). Profit margin: 3.5% (up from 2.3% in 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 11% per year. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: ₩364 (vs ₩452 in FY 2022) Full year 2023 results: EPS: ₩364 (down from ₩452 in FY 2022). Revenue: ₩228.5b (up 24% from FY 2022). Net income: ₩3.43b (down 21% from FY 2022). Profit margin: 1.5% (down from 2.4% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 11% per year whereas the company’s share price has fallen by 16% per year. Upcoming Dividend • Dec 20
Upcoming dividend of ₩90.00 per share at 1.9% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 11 April 2024. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 1.9%. Lower than top quartile of South Korean dividend payers (3.5%). In line with average of industry peers (1.9%). New Risk • Nov 21
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.9% Last year net profit margin: 2.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Earnings have declined by 31% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.9% net profit margin). Market cap is less than US$100m (₩46.2b market cap, or US$35.8m). Reported Earnings • May 17
First quarter 2023 earnings released: EPS: ₩128 (vs ₩132 in 1Q 2022) First quarter 2023 results: EPS: ₩128 (down from ₩132 in 1Q 2022). Revenue: ₩52.6b (up 21% from 1Q 2022). Net income: ₩1.21b (down 6.0% from 1Q 2022). Profit margin: 2.3% (down from 3.0% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 12
Full year 2022 earnings released: EPS: ₩452 (vs ₩609 in FY 2021) Full year 2022 results: EPS: ₩452 (down from ₩609 in FY 2021). Revenue: ₩183.9b (up 24% from FY 2021). Net income: ₩4.34b (down 27% from FY 2021). Profit margin: 2.4% (down from 4.0% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Dec 21
Upcoming dividend of ₩90.00 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 12 April 2023. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of South Korean dividend payers (3.3%). In line with average of industry peers (1.6%). Announcement • Oct 18
FOODWELL Co., Ltd. (KOSDAQ:A005670) announces an Equity Buyback for KRW 1,000 million worth of its shares. FOODWELL Co., Ltd. (KOSDAQ:A005670) announces a share repurchase program. Under the program, the company will repurchase up to KRW 1,000 million worth of its shares, pursuant to a trust contract with SK Securities Co., Ltd. The purpose of the program is to stabilize stock price and enhance the value of shareholders. The program will expire on October 31, 2023. As of October 16, 2022, the company had 556,709 shares in treasury within scope available for dividend and had 698 shares in treasury under other acquisitions. Upcoming Dividend • Dec 22
Upcoming dividend of ₩85.00 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 13 April 2022. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 1.3%. Lower than top quartile of South Korean dividend payers (2.4%). In line with average of industry peers (1.4%). Reported Earnings • Nov 16
Third quarter 2021 earnings released: EPS ₩105 (vs ₩67.00 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩37.5b (up 16% from 3Q 2020). Net income: ₩1.03b (up 59% from 3Q 2020). Profit margin: 2.7% (up from 2.0% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₩6,910, the stock trades at a trailing P/E ratio of 11.9x. Average trailing P/E is 12x in the Food industry in South Korea. Total returns to shareholders of 46% over the past three years. Valuation Update With 7 Day Price Move • Sep 10
Investor sentiment improved over the past week After last week's 19% share price gain to ₩10,800, the stock trades at a trailing P/E ratio of 18.5x. Average trailing P/E is 13x in the Food industry in South Korea. Total returns to shareholders of 118% over the past three years. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improved over the past week After last week's 17% share price gain to ₩8,900, the stock trades at a trailing P/E ratio of 15.3x. Average trailing P/E is 13x in the Food industry in South Korea. Total returns to shareholders of 87% over the past three years. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improved over the past week After last week's 30% share price gain to ₩10,650, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 14x in the Food industry in South Korea. Total returns to shareholders of 126% over the past three years. Reported Earnings • May 20
First quarter 2021 earnings released: EPS ₩273 (vs ₩113 in 1Q 2020) The company reported a solid first quarter result with improved earnings and profit margins, although revenues were flat. First quarter 2021 results: Revenue: ₩34.1b (flat on 1Q 2020). Net income: ₩2.65b (up 140% from 1Q 2020). Profit margin: 7.8% (up from 3.2% in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 14% per year. Announcement • Feb 22
FOODWELL Co., Ltd., Annual General Meeting, Mar 29, 2021 FOODWELL Co., Ltd., Annual General Meeting, Mar 29, 2021, at 11:00 Korea Standard Time. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₩7,340, the stock is trading at a trailing P/E ratio of 28.9x, down from the previous P/E ratio of 34.9x. This compares to an average P/E of 13x in the Food industry in South Korea. Total returns to shareholders over the past three years are 94%. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩100.00 Per Share Will be paid on the 9th of April to those who are registered shareholders by the 29th of December. The trailing yield of 0.8% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (1.3%). Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improved over the past week After last week's 25% share price gain to ₩8,850, the stock is trading at a trailing P/E ratio of 34.9x, up from the previous P/E ratio of 28x. This compares to an average P/E of 13x in the Food industry in South Korea. Total returns to shareholders over the past three years are 140%. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 20% share price gain to ₩8,500, the stock is trading at a trailing P/E ratio of 33.5x, up from the previous P/E ratio of 28x. This compares to an average P/E of 13x in the Food industry in South Korea. Total returns to shareholders over the past three years are 125%. Valuation Update With 7 Day Price Move • Dec 07
Market bids up stock over the past week After last week's 40% share price gain to ₩7,500, the stock is trading at a trailing P/E ratio of 29.5x, up from the previous P/E ratio of 21.1x. This compares to an average P/E of 12x in the Food industry in South Korea. Total returns to shareholders over the past three years are 99%. Is New 90 Day High Low • Dec 04
New 90-day high: ₩5,770 The company is up 12% from its price of ₩5,150 on 04 September 2020. The South Korean market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Food industry, which is down 5.0% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: EPS ₩67.00 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ₩32.3b (down 4.5% from 3Q 2019). Net income: ₩645.3m (down 51% from 3Q 2019). Profit margin: 2.0% (down from 3.9% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. 
