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    A090430   KR7090430000

AMOREPACIFIC CORPORATION

(A090430)
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Amorepacific Sets New Sustainability Goals on Palm Oil, Plastics Use

06/02/2021 | 02:40am EDT

By Fabiana Negrin Ochoa

Amorepacific Corp. set itself new sustainability goals on Wednesday that tackle its use of palm oil and plastic packaging, key concerns for ESG-minded investors.

The beauty company behind brands like Laneige and innisfree said Wednesday that it will invest 10 billion won ($9 million) in biodiversity conservation and getting at least 90% of the palm oil it uses certified by the Roundtable on Sustainable Palm Oil by 2030.

Amorepacific is a member of RSPO, a nonprofit and certification program that aims to assess the negative impact of palm-oil cultivation on the environment and communities. Palm oil, a common ingredient in beauty and cosmetics products like shampoo or lotion, has a poor environmental reputation as a major contributor to deforestation.

Amorepacific, one of the largest cosmetics companies in the world by revenue, said it aims to reduce its plastics footprint by using recycled or bio-based plastics for 30% of its packaging, and by offering more refillable products and services across its portfolio of more than 20 cosmetics, personal-care and healthcare brands.

It also plans to divert the waste produced at its global production sites away from landfills and reach carbon neutrality by 2030.

The new goals come as South Korean companies double down on sustainability as ESG investing booms and policy pressure builds. The government last year threw its weight behind environmentally friendly growth with a multibillion-dollar "Green New Deal," while the Financial Services Commission this year tightened disclosure rules to require all companies listed on the Kospi index to publish environmental, social and governance data from 2030.

Write to Fabiana Negrin Ochoa at fabiana.negrinochoa@wsj.com

(END) Dow Jones Newswires

06-02-21 0239ET

Stocks mentioned in the article
ChangeLast1st jan.
AMOREPACIFIC CORPORATION -0.52% 190000 End-of-day quote.-7.77%
AMOREPACIFIC GROUP 0.95% 53100 End-of-day quote.-3.28%
CRUDE PALM OIL 0.00% 1024.5 End-of-day quote.20.85%
DJ INDUSTRIAL -0.15% 33919.84 Delayed Quote.13.00%
KOSPI COMPOSITE INDEX 0.11% 3134.66 Real-time Quote.9.20%
LONDON BRENT OIL 0.79% 75.1 Delayed Quote.45.09%
LUMBER -0.96% 596.2 End-of-day quote.-31.05%
WTI 0.88% 71.32 Delayed Quote.48.70%
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Financials
Sales 2021 4 911 B 4,15 B 4,15 B
Net income 2021 324 B 0,27 B 0,27 B
Net cash 2021 933 B 0,79 B 0,79 B
P/E ratio 2021 35,8x
Yield 2021 0,56%
Capitalization 11 788 B 9 931 M 9 961 M
EV / Sales 2021 2,21x
EV / Sales 2022 1,88x
Nbr of Employees -
Free-Float 54,4%
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Mean consensus OUTPERFORM
Number of Analysts 27
Last Close Price 190 000,00 KRW
Average target price 269 692,31 KRW
Spread / Average Target 41,9%
EPS Revisions
Managers and Directors
Kyung-Bae Suh Chairman & Co-Chief Executive Officer
Se-Hong Ahn Co-Chief Executive Officer & Director
O-Bin Kwon Managing Director & MD-Finance
Jin-Woo Kim MD & MD-Information Technology Division
Jin-Bong Kim Head-Compliance Support
Sector and Competitors
1st jan.Capi. (M$)
AMOREPACIFIC CORPORATION-7.77%9 931
L'ORÉAL23.38%250 573
KAO CORPORATION-16.15%28 987
SHISEIDO COMPANY, LIMITED7.03%27 927
NATURA &CO HOLDING S.A.-8.27%12 513
KOSÉ CORPORATION-26.70%6 736