Hugel Reports 245.2 Billion KRW in Sales Last Year... Operating Profit Up 24.4%

[Asia Economy Reporter Lee Chun-hee] Hugel continues its steady growth, recording a 16% increase in annual sales compared to the previous year.

On the 10th, Hugel announced that its consolidated financial results for last year showed sales of 245.15311 billion KRW and operating profit of 97.13675 billion KRW. These figures represent growth of 16.2% and 24.4%, respectively, compared to the same period last year. The operating profit margin also rose by 2.6 percentage points to 39.6%, and net profit increased by 32.7% to 60.13506 billion KRW. The company continues to set consecutive records for its best management performance.

The company evaluated that establishing a dominant leading position in the domestic medical aesthetic market, along with visible sales growth in the global market, were the main drivers behind the record-breaking sales. In particular, Hugel’s flagship product, botulinum toxin, has maintained the title of 'No. 1 market share in Korea for six consecutive years,' with sales last year increasing by 13.8% compared to the previous year, solidifying its continuous presence.

Overseas sales also maintained a growth rate of 36.3% compared to the previous year. Notably, sales in the Chinese market, which the company entered for the first time among domestic firms last year, have gotten on track, leading to a 30.7% increase in sales across the Asian region compared to the previous year. Starting with the 'Letibo Online Launch Event' in February last year, Hugel achieved its first-year market share target of 10% through collaboration with its Chinese distribution partner Sahuan Pharmaceutical and its local subsidiary Hugel Shanghai Aesthetic.

This year, Hugel plans to focus on expanding both domestic and international markets. The company aims to raise its market share in China to 20%, while the European market, which received a product approval recommendation from the Heads of Medicines Agencies (HMA) in January, is expected to see its first shipment in the first quarter of this year. Additionally, Hugel plans to obtain product approval in the United States?the world’s largest market for botulinum toxin?by the first half of this year, and also aims to secure approvals in Canada and Australia within the third quarter.

A Hugel representative said, “Thanks to the corporate value and trust that Hugel has built over a long time, we were able to achieve another record-breaking sales performance.” He added, “As market entry into major global markets such as China, Europe, and the United States accelerates this year, we will focus on realizing our corporate value of becoming a ‘global leader in the medical aesthetic industry.’”

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