Hugel Reports Operating Profit of 166.3 Billion KRW Last Year, Up 41.2% Year-on-Year
Growth Across All Product Lines Including Botulinum Toxin and HA Fillers Drives Sales
Medical aesthetic specialist company Hugel announced on the 13th that its consolidated sales last year reached 373 billion KRW, a 16.7% increase from the previous year, and operating profit grew by 41.2% to 166.3 billion KRW, achieving the highest performance in its history. Net profit for the period rose 45.8% to 142.4 billion KRW.
Hugel recorded sales of 203.2 billion KRW from botulinum toxin (Botulax) last year, up 20.2% from the previous year. Among this, overseas sales grew by 39.6% compared to the previous year. The company explained that this was due to growth in the Asia-Pacific region as well as the U.S. and European markets.
HA fillers 'The Chaeum' and 'Bylize' recorded annual sales of 127.6 billion KRW. Overseas sales increased by 13.2% year-on-year due to growth in China, Europe, and the Middle East and North Africa (MENA) region. The derma cosmetic segment, including 'Wellage' and 'Bylize BR,' showed solid sales growth with a 37.8% increase to 36.9 billion KRW compared to the previous year.
Hugel plans to focus on expanding sales and strengthening market dominance in overseas markets this year as well. Especially with the U.S. launch of botulinum toxin scheduled for the first half of the year, the company aims to achieve a 10% market share in the U.S. medical aesthetic market within three years, based on differentiated policies such as academic activities targeting medical professionals and competitive pricing.
Efforts to target the emerging medical aesthetic market in the MENA region will also be accelerated. The company aims to secure a 30% market share within three years in key countries including the United Arab Emirates (UAE), which recently obtained toxin product approval, and Kuwait, where it has already entered.
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A Hugel representative said, "Along with our flagship products botulinum toxin and HA fillers, the new growth engine of cosmetics grew significantly, achieving the best performance since the company's founding last year," adding, "This year, we will continue steady growth across all regions including new markets such as North America and MENA, as well as Asia-Pacific and Europe."
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