Huons Global Reports Q1 Sales of 159.7 Billion KRW, Up 21% Year-on-Year

[Asia Economy Reporter Lee Gwan-ju] Huons Global, the holding company of the Huons Group, announced on the 16th that its consolidated sales for the first quarter increased by 21% year-on-year to 159.7 billion KRW. Operating profit rose by 1% to 20.7 billion KRW.

The core business companies Huons and Humedics led the group's growth, while Huons Meditech, newly launched as a medical device specialist company, and Huons Biopharma, a botulinum toxin specialist company, also supported the rise in performance.

Huons recorded consolidated sales of 115.9 billion KRW, up 16% from the same period last year, while operating profit decreased by 14% to 11.7 billion KRW. The Beauty & Wellbeing division, driven by the health functional food business, showed significant growth with a 26% increase. Following this, consignment and prescription drugs increased by 19% and 18%, respectively.

To strengthen competitiveness in the health functional food business, Huons is expanding its product lineup reflecting consumer trends and enhancing the proportion of its exclusive online store for health functional foods, ‘Huons Mall,’ to secure price competitiveness, thereby aiming to improve consumer satisfaction and profitability.

In the case of Humedics, first-quarter standalone sales reached 26.9 billion KRW and operating profit 4.3 billion KRW, increasing by 24% and 63% year-on-year, respectively. All business areas showed balanced growth, and with the easing of mask mandates, aesthetic demand increased, leading to a 26% and 18% rise in the aesthetic business represented by fillers (Elavie Premier, Revoline) and botulinum toxin (Liztox), and the ophthalmic solution CMO business, respectively.

Additionally, Huons Meditech, launched last February, achieved first-quarter sales of 17.5 billion KRW, while Hubena and Huons Biopharma recorded sales of 6.6 billion KRW and 4.3 billion KRW, respectively.

Huons Global explained that the slight stagnation in operating profit was due to temporary increases such as advertising expenses of its main subsidiary Huons and increased research and development (R&D) costs for future growth. The decrease in net profit was attributed to a valuation loss of 2 billion KRW caused by a decline in the market value of companies invested in by subsidiaries, but there was no cash outflow.

A Huons Global official said, “In the first quarter, we were able to achieve favorable results by expanding the lineup of major products to attract new targets and broaden choices. With the business structure advancement, management efficiency, profitability improvement, and the subsidiary merger process to increase sales synergy expected to be completed in July, we anticipate improved profitability in the second half of the year. We also plan to continuously seek new business opportunities to enhance the group’s future value.”

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