Hugel Q3 Operating Profit 21.2 Billion Won... "Overseas Market 'Winning Streak'"

[Asia Economy Reporter Yoo Hyun-seok] Hugel, a global total medical aesthetic specialist company, announced on the 10th that it recorded sales of 54,072.11 million KRW, operating profit of 21,165.98 million KRW, and net profit of 10,663.18 million KRW based on consolidated financial statements for the third quarter.

Both sales and operating profit increased by 12% and 26.7%, respectively, compared to the second quarter. Compared to the same period last year, they rose by 5.7% and 16.2%, respectively. The operating profit margin also showed an upward trend at 39.1%.

The company cited the high growth of botulinum toxin formulations and HA fillers as the reason for continuing the upward trend in third-quarter performance despite the prolonged domestic and international economic recession caused by COVID-19. With stable growth in the domestic market and remarkable progress in overseas markets, total sales of the two products increased by 19% and 8.5%, respectively, compared to the same period last year, driving strong performance.

‘Botulax,’ which has maintained the number one position in the domestic botulinum toxin market for four consecutive years, recorded sales of 15.7 billion KRW, solidifying its leading position in the domestic market. The growth trend of HA fillers is also clear, recording 5.4 billion KRW, up 9.9% compared to the same period last year. This is a 22% increase compared to the previous quarter.

Overseas performance stood out in the third quarter. Botulinum toxin, currently exported to 28 countries, recorded export sales of 12.5 billion KRW in the third quarter as demand gradually recovered mainly in Thailand, Japan, and the LATAM region. This is a significant increase of 57.8% compared to the same period last year. Overseas sales of HA fillers also increased by 7.9% compared to the previous year.

Hugel’s outlook for the fourth quarter is also bright. On the 21st of last month, it obtained Chinese product approval for the botulinum toxin formulation ‘Letybo (export name).’ Letybo is expected to be exported for the first time in December, and the related sales will be reflected in the fourth quarter. Furthermore, based on its leading position in the domestic botulinum toxin market, the company plans to expand its domestic market base by strengthening marketing strategies such as cross-selling of HA filler products, supported by the gradual expansion of new clients.

A Hugel official said, “Based on reliable product capabilities, stable sales growth of botulinum toxin and HA fillers continues both domestically and internationally. With entry into the Chinese botulinum toxin market, which is the third largest after the US and Europe, the company is at a turning point for a quantum leap. We will strengthen our global presence through strategic R&D investment and advanced sales/marketing strategies in the future.”

This content was produced with the assistance of AI translation services.