Hugel 1Q Sales 64.4 Billion KRW... Operating Profit Down 25% "Impact of Prior Investment in Overseas Markets"

Hugel announced on the 10th that it recorded sales of 64.4 billion KRW, operating profit of 18.5 billion KRW, and net profit of 17 billion KRW for the first quarter of this year based on consolidated financial statements.

Hugel logo
Photo by Hugel

Sales increased by 4% compared to the same period last year, but operating profit decreased by 25%. The company explained, "There were impacts from pre-investments for launches in the Australia and Canada regions."

The flagship product, botulinum toxin (BTX) formulation ‘Botulax,’ generated substantial sales in major European countries and continued steady growth in Asia, including Thailand and Taiwan, as well as Latin America. Overseas sales increased by 51% compared to the same period last year, and the company maintains a leading position steadily in the domestic market as well.

The HA filler brand ‘The Chaeum’ aggressively expanded domestic sales and marketing, and sales gradually increased in Asia and Europe, resulting in an 8% increase in total sales compared to the same period last year. The cosmetic brand ‘Wellage’ recorded approximately 17% sales growth compared to the same period last year through new product launches and various marketing activities via online and offline channels.

Hugel plans to carry out sales and marketing activities specialized for the local market to achieve a market share of over 10% in Europe this year. The company will provide high-quality academic content and educational programs targeting medical professionals and institutions, and also pursue strategies targeting younger consumers who show high interest in new brands and products.

A Hugel official said, “Through comprehensive marketing activities, we were able to secure a stable and unique market position domestically and continue stable growth in the global market. We will further enhance Hugel’s global value and presence through expansion into the newly entered Australian market, launches in Canada, and growth in the European market.”

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