1. F&F Q2 2025 Earnings: Key Highlights

F&F recorded revenue of KRW 378.7 billion, operating profit of KRW 74.4 billion, and net income of KRW 52.1 billion in the first half of 2025. This represents a significant ‘earnings surprise,’ driven primarily by the rebound in Q2 performance.

2. Drivers of Growth: What Fueled F&F’s Strong Performance?

  • Overseas Market Expansion: Overseas sales increased to 40.71% of total revenue, driven by the turnaround of its Chinese subsidiary.
  • Strong Brand Power: Continued popularity of core brands like MLB and MLB KIDS, coupled with rising demand for luxury brands, boosted performance.
  • Solid Financial Position: F&F maintains a very stable financial position with a debt-to-equity ratio of 10.7%.

3. Outlook and Investment Strategy: Is F&F a Good Investment?

This earnings announcement confirms F&F’s growth potential. If the positive momentum from Q2 continues, we can expect upward pressure on the stock price. The current low valuation further enhances its investment appeal. However, investors should be mindful of potential risks such as global economic slowdown and increased competition.

4. Action Plan for Investors

If you are considering investing in F&F, consider the following action plan:

  • Monitor Performance: Track future earnings announcements and market analysis reports to assess the sustainability of growth.
  • Analyze Competitors: Evaluate F&F’s competitiveness by analyzing the performance and strategies of domestic and international competitors.
  • Assess Macroeconomic Factors: Analyze the potential impact of macroeconomic variables, such as global economic slowdown and exchange rate fluctuations, on F&F’s performance.