Huons, Q1 Sales Reach 127.9 Billion KRW... 10.4% Increase YoY

Operating Profit Decreases by 4.6%

Huons announced on the 4th that its consolidated sales for the first quarter of this year were tentatively recorded at 127.9 billion KRW, an increase of 10.4% compared to the same period last year. Operating profit for the same period decreased by 4.6% to 11.2 billion KRW, while net profit grew by 59.1% to 13.9 billion KRW.

Huons CI. [Image provided by Huons]

The company explained that sales increased in the first quarter due to growth in prescription drugs and the beauty & well-being business. Prescription drugs achieved first-quarter sales of 57.2 billion KRW, growing 11% year-on-year, driven by increased exports of injectables to the North American market and expanded sales of circulatory system drugs such as those for hyperlipidemia and hypertension. In particular, exports to the U.S. of four FDA-approved drug items, including lidocaine topical anesthetics, reached 5.7 billion KRW for the second consecutive quarter, tripling sales compared to the same period last year.

Sales in the beauty & well-being sector reached 46.3 billion KRW in the first quarter, up 12% year-on-year, marking a record high. Growth was led by well-being pharmaceuticals, which recorded sales of 23.5 billion KRW due to increased sales of vitamin injectables. The health functional food business achieved its highest performance with sales of 17.2 billion KRW, including 10.8 billion KRW from 'Eluvi Menolacto'.

The contract manufacturing organization (CMO) business also showed growth, recording sales of 15.9 billion KRW in the first quarter due to increased orders for eye drops and injectables.

On the other hand, Huons explained that operating profit reflected increased advertising expenses and commission fees due to the expansion of the health functional food business. There was a temporary increase in initial marketing costs related to the launch of the male prostate health functional food 'Sagunja'.

Huons Foodience, a health functional food subsidiary, recorded first-quarter sales of 9.7 billion KRW and an operating loss of 100 million KRW due to the seasonal off-season effect.

Song Su-young, CEO of Huons, stated, "We plan to continuously discover partners to strengthen competitiveness through global market expansion this year and to promote mid- to long-term future growth. To contribute to the creation of a venture ecosystem in the bio healthcare field, we will expand strategic investments and new pipelines through open innovation."

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