Ladies and gentlemen, I am Kate Park, Head of Investor Relations at KT&G. Thank you for attending KT&G's 2025 third-quarter earnings report. Today's presentation will be provided in English and simultaneous interpretation, and the Q&A session in consecutive interpretation. The materials can be found via the live webcast screen or downloaded from the company website. Please allow me to introduce the management team in attendance today. With us, we have Mr. Sang-Hak Lee, Chief Finance and Operating Officer, Mr. Chang-Koo Ho, Chief Strategy Officer, Mr. Min-Seok Kwon, Chief of Global Business, Mr. Yong-Chan Yoon, Chief of Marketing, Mr. Dae-Hwa Hong, Chief of NGP, Mr. Sang-Jun Woo, Chief of Real Estate Business, Mr. Yong-Bum Kim, Head of Finance Office, and Mr. Tae-Won Kim, Chief of Future Strategy at KGC.
Please be advised that the earnings we are about to present today have yet to be audited by the outside auditor, therefore, are subject to change in the audit process. Any forward-looking information discussed in the call today may differ from the actual results to be reported in the future. With that, we will present our 2025 third-quarter earnings. We will begin with key items from our consolidated earnings and then move on to each business segment. The presentation will be followed by a Q&A session with the management team. I will first invite Mr. Sang-Hak Lee, our CFO and COO, to share with you key Q3 performances and updates on the business. Ladies and gentlemen, I am Sang-Hak Lee, COO and CFO of KT&G.
I would like to begin by extending my deepest gratitude to our shareholders and investors for all the interest and support you have shown for KT&G. Please allow me to share with you our key performance for the third quarter of 2025, the full year outlook, and our plans on the nicotine pouch business. First of all, KT&G has set a new record for quarter operating profit in five years, reaching highest-ever revenue and profit at the same time for a quarter. This performance is a result of continued robust growth in global CC and strong earnings across the entire tobacco business. With improved profitability in health-functional food and expanded profit in real estate, on top of this, we were able to achieve double-digit growth in both revenue and operating profit on a consolidated basis. The global CC business continued its streak of record-high earnings for three consecutive quarters.
Both volume and ASP grew in double digits. This drove quarter revenue up by 25% versus the previous year, surpassing KRW 500 billion for the first time. That being said, reflecting the growth trend that has continued into the third quarter, we are raising our full year guidance for 2025. Based on the strong growth momentum in the global market, we now anticipate our full year revenue and operating profit to grow by double digits compared to the previous year. Moving on to our plans for the nicotine pouch business, KT&G is materializing our entry into the nicotine pouch category, which is the fastest-growing category in the industry. In September, we executed a strategic partnership with Altria, the number one tobacco company in the US, and signed a joint acquisition agreement for Another Snus Factory, or ASF.
ASF has established itself in the Nordics with high market share in Iceland, Sweden, and Norway, based on its nicotine pouch brand LOOP. Starting from next year, we plan to engage in full-fledged global market expansion beyond the five Nordic markets, going into Western Europe, Middle East, Africa, Asia, and North America. Going forward, KT&G intends to enforce global business-oriented structural changes and business expansion to create a sustainable competitive edge and growth momentum to maximize corporate and shareholder value. I ask for your unwavering support for KT&G. Thank you. Now we will move on to the details of our Q3 earnings. Consolidated earnings in page four. Strong results across the tobacco business, including robust global CC growth, along with improved earnings in real estate, drove Q3 consolidated revenue up by 11.6% year-over-year to KRW 1.8269 trillion. Operating profits were up 11.4% to KRW 465.3 billion.
Net income was impacted by currency fluctuations in the quarter, with higher currency-related non-operating profits driving income up by 73.4% to KRW 418.7 billion. EPS rose by 81.7% to KRW 389.8 billion. EBITDA grew by 12.3% to KRW 540.5 billion, with EBITDA margins at 29.6%. Next is on reasons behind movement in earnings. In page five. In the tobacco business, there was a KRW 100.4 billion increase in cost connected to the volume increase. The positive impact from a better product mix and pricing added KRW 34.1 billion in profit. Total cigarette and NGP stick volume increase was plus KRW 90.4 billion, and appreciation of the dollar against the won was a KRW 12.7 billion impact, totaling to a KRW 36.8 billion increase. The HFF business that was operated under a profit-centered policy showed a KRW 2.7 billion increase.
Real estate profits also rose by KRW 8 billion, with progress in development projects. These factors combined led to an 11.4% year-on-year increase in consolidated operating profit. Next, I will move on to performance by business segments in page six. Starting with tobacco. Q3 tobacco business revenue was supported by global CC that once again broke the record for highest-ever quarter revenue, as well as strong results across the board with CC and NGP to rise 17.6% year-on-year to KRW 1.2323 trillion. Such revenue growth led to Q3 profit growth of 11% to KRW 371.8 billion. Meanwhile, the share of global business in tobacco continued to expand with the double-digit growth in global CC volume to rise 1.8 percentage points to 62.3%. Let's go into each tobacco segment in page seven. Starting with domestic CC.
We saw some advanced demand ahead of the long-term Chuseok holiday in early October, leading to increased market volume in domestic CC for the quarter. KT&G volume growth outpaced the market volume growth, which was a result of differentiated new product launches, leading to strong market share growth, with our market share for nine months year-to-date surpassing 68%. Let's move on to global cigarettes in page eight. Q3 global cigarette volume saw growth across all regions, including CIS, Latin America, APAC, and Middle East, combining to 12.9% growth year-over-year to 18.42 billion sticks. Pricing and better mix with higher contribution from premium products drove ASP up by double digits, leading to 25% revenue growth despite the high base from the third quarter of last year. This was, again, a new record in quarter volume and revenue.
Next to NGP in page nine Q3 NGP revenue was driven by new product launches and the catch-up supply of delayed devices for the first half, to grow domestically and internationally to KRW 279.1 billion. Zooming in on details of domestic and international NGP numbers in page ten. As for the domestic business, while the NGP category's penetration of the market continues, we are maintaining our market share at a stable level, addressing the intensified competition with new product launches. In the global business, the launch of an upgraded version of Low Solid in Russia and the catch-up supply of delayed devices from the first half led to growth in both devices and stick volumes.
Next to page eleven on health functional food Q3 HFF revenue was impacted by economic factors, including a subdued consumer sentiment and price pressure, as well as continued portfolio restructuring towards high-profit channels and products, with revenue declining versus the previous year. On the other hand, as COGS improves and the profit-centered strategy, including optimization of the marketing policy, continues to show effect, Q3 operating profit grew YOY. Share of global revenue in HFF declined due to lower revenue from Greater China. Breaking down domestic and international. Numbers in page twelve. Looking at the revenue of each domestic channel, while revenue grew in high-profit strategic channels, including duty-free and online, channel portfolio restructuring led to reduced offline revenue from low-profit large distribution channels, including supermarkets and department stores. Overseas revenue declined due to reduced promotions.
Next to page thirteen on real estate business. Q3 real estate revenue grew as higher revenue is recognized from development projects with construction progress in Anyang, Mia, and East Daejeon to KRW 146.1 billion. As development revenue increased, Q3 operating profit saw a KRW 20.7 billion rise YOY. This concludes the KT&G Q3 earnings presentation, and we are now happy to take your questions.