Huons Global Reports Q1 Sales of 174 Billion KRW, Up 12% Year-on-Year

Huons Group's holding company, Huons Global, announced on the 15th that its consolidated sales for the first quarter of this year reached 174 billion KRW, a 12% increase compared to the same period last year. Operating profit for the same period grew by 18.4% to 24.5 billion KRW.

Huons Global CI. [Image provided by Huons Global]

The company explained that the group's growth was driven by the continuous growth of listed subsidiaries such as Huons and Humedix, as well as the strong performance of unlisted subsidiaries like Huons Biopharma.

Huons recorded consolidated sales of 127.9 billion KRW and operating profit of 11.2 billion KRW in the first quarter. While sales increased by 10.4% compared to the previous year, operating profit decreased by 4.6%. Sales in the prescription drug segment grew by 11% year-on-year to 57.2 billion KRW, the beauty and well-being segment grew by 12% to 46.3 billion KRW, and the contract manufacturing organization (CMO) business achieved 15.9 billion KRW. Notably, exports to the U.S. of four products approved by the U.S. FDA ANDA, including lidocaine topical anesthetics, reached 5.7 billion KRW for the second consecutive quarter following the previous quarter.

Humedix, the aesthetic subsidiary, recorded separate sales of 36.1 billion KRW and operating profit of 9.3 billion KRW in the first quarter, marking a quarterly record with growth of 35% and 116% respectively compared to the previous year. Humedix led sales growth in both the aesthetic and CMO business sectors. The aesthetic business saw a significant increase in demand centered on fillers and the botulinum toxin product 'Liztox' due to the lifting of China's zero-COVID policy and the government's removal of indoor and outdoor mask mandates. The CMO business increased sales of prescription drugs by diversifying its product portfolio. Additionally, operating profit increased due to improved operating rates and productivity driven by high sales growth from increased sales and orders of key product lines.

Huem&C, the healthcare materials subsidiary, also recorded its highest quarterly sales with individual sales of 11.9 billion KRW and operating profit of 830 million KRW in the first quarter, representing a 284% increase and a return to profitability compared to the previous year. The glass division, a new business following last year's merger with Hubena, achieved sales growth in medical glass containers such as ampoules and vials, recording 9 billion KRW, a 37% increase year-on-year. The cosmetic division recorded sales of 2.9 billion KRW, a 5% decrease compared to the same period last year. The performance of Blossom Story and Blossom Pictures, which were sold in February, was excluded.

The unlisted medical device subsidiary Huons Meditech achieved sales of 14.7 billion KRW and operating profit of 1.4 billion KRW. Huons Biopharma improved its cost ratio by adjusting production line yields, resulting in sales of 10.8 billion KRW and operating profit of 3.8 billion KRW, growing 153% and 668% respectively compared to the previous year.

Song Soo-young, CEO of Huons Global, stated, "To propel the group forward, we are increasing production capacity in key business sectors that lead to market supply expansion, while also seeking partners to foster medium- to long-term growth. Through strategic investments via open innovation for sustainable growth, we plan to contribute to the creation of a venture ecosystem in the bio healthcare field and continuously expand our new pipeline."

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