Ubicare, 2Q Sales 32.3 Billion Won... Operating Profit Down 34%

[Asia Economy Reporter Lee Chun-hee] Digital healthcare solution company Ubicare announced on the 1st that its consolidated financial statements show a provisional Q2 revenue of 32.984 billion KRW, a 20.4% increase compared to the previous year. Operating profit recorded 2.336 billion KRW, and net profit for the period turned positive at 669 million KRW compared to the same period last year.

The company explained that the expansion in scale was driven by stable sales in its core Electronic Medical Records (EMR) division, the expansion of EMR value-added services, and synergy effects from the distribution business. In fact, sales in the EMR sector targeting hospitals, clinics, and pharmacies reached 16.6 billion KRW, growing nearly 20% compared to the same period last year. Sales in the distribution sector also increased by more than 29% to 14 billion KRW.

Operating profit decreased by 34% compared to 3.539 billion KRW in the same period last year. The company explained, "This is due to increased commission fees linked to sales for dealerships, as well as investment costs for growth such as hiring new personnel to secure new products and new businesses."

An Ubicare official said, "Despite the prolonged impact of COVID-19, we are maintaining steady sales growth," adding, "Ubicare will maintain the current performance growth based on its existing cash cow lineup, and in the mid to long term, it will expand its business areas to EMR, distribution, pharmaceuticals and data, and the general public, aiming to become a patient/medical service platform company."

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