IEL Science, 1Q Sales Up 271% YoY... "Portfolio Expansion Begins"

[Asia Economy Reporter Hyunseok Yoo] IL Science announced on the 17th that its sales in the first quarter of this year reached 6 billion KRW with an operating loss of 700 million KRW. Compared to the same period last year, sales increased by 271% while the operating loss decreased by 71%.

IL Science Director (CFO) Kwangin Ahn said, “The first quarter of this year showed steady sales growth compared to last year, with particularly notable growth in the hair care segment. Considering that we are at the early stage of portfolio expansion, the previously distinct seasonality is expected to gradually dilute, and the overall increase in personnel including research and development and marketing since last year will contribute to future sales growth.”

IL Science, which previously generated over 90% of its sales from construction lighting, announced a full-scale business diversification by adding new business purposes at last year’s regular shareholders’ meeting.

The hair care products’ share of total sales grew from about 12% in 2020 to 21% currently. The main products in hair care are scalp care devices, shampoo, and tonic, in that order, with plans for overseas sales within the first half of the year.

Director Ahn said, “This year will be the year to reap the results of our preparations for portfolio expansion through silicone material lenses,” adding, “We will demonstrate IL Science’s unique growth engines across various fields including construction, hair care, automotive, and medical devices.”

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