APR Reports First Half Sales of 249.9 Billion KRW...Record High Performance Achieved

Global beauty tech company APR (CEO Kim Byung-hoon) has achieved its highest-ever performance since its founding.

APR announced on the 14th that it recorded sales of 249.9 billion KRW and operating profit of 48 billion KRW in the first half of this year. This represents a 43.4% increase in sales and a 711.9% increase in operating profit compared to the same period last year, marking an all-time high. Last year, APR's sales and operating profit in the first half were 174.3 billion KRW and 5.9 billion KRW, respectively.

The most remarkable part of this first-half performance is the operating profit of 48 billion KRW. This is a 711.9% increase compared to 5.9 billion KRW in the same period last year and is 22.3% higher than the total operating profit of 39.2 billion KRW for the entire last year. APR's last twelve months (LTM) operating profit, calculated from the second half of last year to the first half of this year (June 2023), amounts to approximately 81.2 billion KRW.

The qualitative improvement trend in operating profit also continued. The operating profit in the second quarter was 24.8 billion KRW, higher than the 23.2 billion KRW recorded in the first quarter. The operating profit margins for the second quarter and the first half were 19.4% and 19.2%, respectively, approaching the 20% range.

The business segment driving the first-half performance was Beauty, which recorded sales of 201.8 billion KRW, growing 56.7% compared to the same period last year. In particular, the growth of the ‘MediCube AGE-R’ beauty device segment was very prominent. APR, which sold 600,000 beauty devices throughout last year, surpassed 500,000 units sold domestically and internationally in just the first half of this year, thanks to the high popularity of Booster Healer. The company also increased sales by launching the eye care product Eye Shot and the body care product Body Shot in March and May, respectively.

Especially, overseas sales of beauty devices doubled compared to the same period last year, driving overall overseas performance. The United States was a standout market. In addition to its own online store, APR’s active online sales strategy through Amazon and marketing strategies involving local beauty influencers were successfully implemented. As a result, Booster Healer, the most popular product, ranked first in overseas sales in the U.S., surpassing Japan.

APR expects its first-half performance this year to contribute to maximizing corporate value before listing. Previously, based on results up to the third quarter of last year, APR secured a pre-IPO investment valuing the company at 700 billion KRW. In June, after last year’s results were disclosed, it successfully attracted an investment from CJ OnStyle valuing the company at 1 trillion KRW. Therefore, the company expects that its current corporate value, having achieved an LTM operating profit of 80 billion KRW before the scheduled submission of the preliminary listing examination application within the year, will be evaluated even higher.

Kim Byung-hoon, CEO of APR, stated, “The first half of the year was a period when we could feel another K-beauty boom blowing in global markets such as the U.S. and Japan. As the only tech company among domestic beauty companies based on beauty devices, we will continue to focus on building a global super-gap based on technology.”

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