"Hugel, Performance Exceeding Expectations... Continued Growth"

[Asia Economy Reporter Hyungsoo Park] Hugel achieved results in the fourth quarter of last year that exceeded market expectations.

According to the Financial Supervisory Service on the 14th, Hugel recorded sales of 67.4 billion KRW and operating profit of 28 billion KRW in the fourth quarter of last year. This represents an increase of 24.8% and 60.5%, respectively, compared to the same period last year.

Researcher Myungseon Lee from Shin Young Securities explained, "Sales exceeded market expectations by 10%, and operating profit surpassed by 20.8%," adding, "Toxin sales increased by 46.1% and filler sales by 19.7% year-on-year, driving the growth in fourth-quarter performance."

She continued, "The domestic toxin market share increased due to the cancellation of product approval by competitors," and "the sales cost ratio of toxin and filler, which have favorable margins, increased each quarter, resulting in a 9.2 percentage point improvement in operating profit margin."

Researcher Lee emphasized, "Following the approval of toxin sales in China last October, aggressive marketing activities will be promoted in China this year," aiming to become the number one toxin market player in China within five years.

She analyzed, "Efforts are focused on obtaining toxin sales approvals in major European countries in the second half of this year and in the United States in the first half of next year," adding, "Along with approvals in key countries, the new filler plant aims for commercial production this year, and the third toxin plant targets commercial production in 2023 to support aggressive sales."

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