Plasmap, Q3 Sales Up 247% YoY... Gross Profit Margin 43% 'Rapid Growth'

Profitability Improved 10-Fold
Established Foundation for Double-Digit Growth Compared to Previous Year

Plasmap announced third-quarter results showing improvements in both sales and profitability compared to the previous quarter. Plasmap reported sales of 4.53 billion KRW and a gross profit margin of 43% for the third quarter on the 31st. It recorded an operating loss of 3.873 billion KRW and a net loss of 3.38 billion KRW.

Plasmap achieved sales of 4.5 billion KRW in the third quarter, which is considered an off-season in the medical device market, demonstrating growth every quarter. Third-quarter sales increased by 247% compared to 1.3 billion KRW in the same period last year. The cumulative sales for the third quarter reached a level similar to last year's total sales. The company has laid the foundation for double-digit growth through fourth-quarter sales.

Plasmap's third-quarter performance was accompanied by improved profitability. The gross profit margin improved to 43% in the third quarter, and the cumulative gross profit margin for this year rose to 33%. Profitability improved more than tenfold compared to the same period last year.

Along with rapid performance improvement, Plasmap announced that it achieved a significant milestone in the market during the third quarter. The plasma low-temperature sterilizer 'STERLINK Lite,' launched in June, surpassed cumulative sales of 500 units within four months of its release. The market expects it to establish itself as the number one low-temperature sterilizer in the domestic market by the second half of the year. The surface treatment device 'ACTILINK Reborn' appears to have begun full-scale market penetration by signing new contracts with about ten domestic implant manufacturers. A market insider noted that the clinical efficacy of the surface treatment device was proven for the first time worldwide in an SCI-level paper, which acted as a catalyst in the market.

A Plasmap representative said, "Since our listing last year, we have undergone structural reforms to expand the global market and improve our profit structure," adding, "We have worked hard to improve quality and launch consumer-oriented new products." He continued, "The results of these efforts seem to be gradually materializing in the third-quarter performance."

Since CEO Yoon Sam-jeong took office, the company has shown a sophisticated business structure by improving both sales and profitability for three consecutive quarters. Meaningful contracts with various overseas companies are also rapidly increasing.

CEO Yoon Sam-jeong positively evaluated the third-quarter sales performance, stating, "Plasmap's 'STERLINK' and 'ACTILINK' have become essential, not optional, in the advanced medical device market." He added, "The newly launched sterilizer product in the fourth quarter is scheduled for large-scale shipments to North America and Japan upon release."

He expressed expectations, saying, "Considering the visible overseas certifications and meaningful contract negotiations with major overseas implant manufacturers, Plasmap is expected to experience rapid growth in the fourth quarter of this year and next year." He also added, "Continuing the current trend, we will achieve 100% sales growth again next year as before."

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