Hyundai Bio Land Reports Operating Profit of 10.2 Billion KRW in H1... Record High Performance

First Half Sales of 64.5 Billion KRW... 25% Increase Year-on-Year
Operating Profit Up 46%

Hyundai BioLand achieved record-high sales and operating profit in the first half of this year. The steady growth of existing business sectors such as cosmetics and food, along with the strong performance of the new health food distribution business, are analyzed to have driven this high growth.

Hyundai BioLand, a comprehensive healthcare company affiliated with Hyundai Department Store Group, announced on the 5th that its sales for the first half of this year were preliminarily estimated at 64.5 billion KRW, a 25% increase compared to the previous year. Operating profit for the same period rose 46% to 10.2 billion KRW. Both sales and operating profit are the highest ever recorded for a half-year period.

By sector, the cosmetics raw materials division recorded 33.9 billion KRW, up 15% from the previous year, while the food raw materials division achieved 11.8 billion KRW, a 9% increase. In particular, the health food distribution business sector posted 9.5 billion KRW, a fivefold increase compared to the same period last year. However, the biomedical division recorded sales of 9.3 billion KRW, the same as the previous year.

The second quarter results also marked the highest ever quarterly sales and operating profit. Sales increased 36% year-on-year to 34.5 billion KRW, and operating profit rose 77% to 6.2 billion KRW.

The cosmetics and food raw materials divisions recorded 17.3 billion KRW and 5.5 billion KRW respectively, up 18% and 15% compared to the same period last year. Sales in the health food distribution business sector surged more than sixfold to 7.3 billion KRW. However, due to the impact of medical strikes, the biomedical division (4.4 billion KRW) saw a slight decrease of about 4% compared to the previous year.

A Hyundai BioLand official stated, “The growth trend in the cosmetics raw materials division continued due to the strong export of K-Beauty, our upstream industry, and sales in the health food distribution business expanded significantly through increased collaboration with the global healthcare company Nestl? Health Science, resulting in a substantial increase in both sales and operating profit.”

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