APR Surpasses 500 Billion KRW in Annual Sales... Operating Profit Up 166%

Sales 523.8 Billion KRW · Operating Profit 104.2 Billion KRW
Annual Sales 500 Billion KRW · Operating Profit 100 Billion KRW in 10 Years Since Establishment
Overseas Sales Share 40%... US Sales Up 127.3% YoY

APR set a new record for its best-ever performance by surpassing 500 billion KRW in annual sales and 100 billion KRW in operating profit just 10 years after its establishment.

According to the business report released by APR on the 21st, last year's consolidated operating profit reached 104.2 billion KRW, marking a 165.6% increase compared to the previous year. During the same period, sales increased by 31.7% to 523.8 billion KRW. The operating profit margin stood at 19.9%.

APR 2023 Annual Performance.
[Image provided by APR]

The company emphasized that qualitative growth was also prominent in last year's results. The annual operating profit margin of 19.9% last year was the highest ever and represented a 10 percentage point increase compared to 2022. In particular, in the fourth quarter of last year, APR recorded an operating profit of 34.4 billion KRW with an operating profit margin of 22.6%. The fourth quarter of last year was the first time APR’s quarterly operating profit exceeded 30 billion KRW.

The beauty device 'MediCube AGE-R' drove last year’s performance. APR’s beauty device sales last year totaled approximately 1.05 million units domestically and internationally. Considering that sales were 600,000 units in 2022, this represents a 75% increase in one year. Beauty device sales reached 216.2 billion KRW last year, surpassing 200 billion KRW for the first time ever.

Sales in the cosmetics and beauty segment also grew alongside, recording 214.3 billion KRW, a 21.4% increase compared to the previous year. Sales of MediCube cosmetics, which create synergy effects with beauty devices, increased. The beauty lineups including Aprilskin, Forment, and GlamD Bio (Inner Beauty) posted solid sales.

Overseas sales amounted to 205.2 billion KRW, accounting for 39.2% of total sales. Overseas sales increased by 42.8% compared to the previous year. In particular, the U.S. market recorded sales of 67.9 billion KRW last year, growing 127.3% year-on-year, influenced by strong Black Friday sales. APR explained that high growth is expected to continue in the U.S. market. Japan and China followed the U.S., and sales also rose in Hong Kong and other Southeast Asian regions.

Based on last year’s strong performance, APR plans to continue launching beauty devices and expanding its global market presence this year. By operating the second factory in Pyeongtaek, the company aims to meet domestic and international demand for beauty devices while seeking to expand its overseas market share through various channels. It will also continue investing in research and development (R&D).

An APR official stated, "We believe 2023 is the inaugural year in which APR became a game changer in the beauty industry," adding, "This year as well, we will continue our growth momentum through active technology development and overseas market expansion."

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