Huons Global Q3 Sales Reach 170.9 Billion KRW, Up 18% Year-on-Year

Record Quarterly Sales Achieved Through Business Restructuring and Capability Enhancement

[Asia Economy Reporter Lee Gwan-joo] Huons Global, the holding company of Huons Group, announced on the 14th that its consolidated sales for the third quarter reached 170.9 billion KRW, an 18% increase compared to the same period last year. Operating profit decreased by 1% to 18.9 billion KRW.

The continuous growth of major listed subsidiaries such as Huons and Humedix, along with the stable performance of unlisted subsidiaries like Huons Meditech and Huons Biopharma, formed the foundation for the group's growth.

Huons recorded consolidated sales of 123.1 billion KRW, a 10% increase compared to the same period last year. Operating profit was 2 billion KRW, down 86%, but this included a bad debt write-off of 5.6 billion KRW incurred during the sales process of COVID-19 personal protective equipment exported to the United States.

Humedix achieved sales of 31.9 billion KRW and operating profit of 7.8 billion KRW, growing 39% and 204% respectively compared to the previous year. Huem&c, which turned profitable in the second quarter, reached sales of 13.6 billion KRW and operating profit of 1.1 billion KRW, entering a phase of significant performance improvement.

Additionally, the unlisted subsidiary Huons Meditech achieved sales of 14.5 billion KRW and operating profit of 2.3 billion KRW, while Huons Biopharma recorded stable results with sales of 6.8 billion KRW and operating profit of 1.5 billion KRW, contributing to the group's growth.

Huons Group is expanding strategic partnerships across various business sectors to secure growth engines in the bio and healthcare industries. Last month, it signed a business agreement with Lotte Biologics for the production of biopharmaceuticals, initiating preparations for the commercialization of its bio-pharmaceutical pipeline under development.

Moreover, Humedix secured the exclusive domestic sales rights for One Biogen’s wound dressing product 'Kiriel' and is actively engaging in partnerships with leading domestic biotech companies to develop hair loss treatments and donepezil injection for Alzheimer's dementia treatment, among other activities to secure future growth resources.

Song Soo-young, CEO of Huons Global, stated, "Despite uncertain external conditions, Huons Group has continued to achieve remarkable growth. To realize our goal of becoming a total healthcare group, we plan to accelerate business expansion in various areas by forming business cooperation partnerships with promising bio ventures and securing future growth momentum."

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