Osteonic Reports 1Q Operating Profit of 1.5 Billion KRW, Up 28.5% Year-on-Year

Osteonic, an orthopedic implant company, announced on May 14 that it achieved consolidated sales of 9.5 billion KRW, operating profit of 1.49 billion KRW, and net profit of 760 million KRW in the first quarter of this year.

Sales increased by 1.83 billion KRW compared to the same period last year, marking a 23.8% growth, while operating profit rose by 330 million KRW (28.5%), achieving the highest first-quarter performance in the company's history. The operating margin for the first quarter was 15.7%.

This strong performance by Osteonic was driven by the growth of its core product groups?Sports Medicine (soft tissue reconstruction), CMF (cranio-maxillofacial), and Trauma (upper and lower limb fractures)?as well as the expansion of its new product lineup, Spine Implants.

In particular, Osteonic saw higher export growth than domestic sales in the first quarter of this year. Of the total sales, domestic sales amounted to 5.8 billion KRW and exports to 3.7 billion KRW. Domestic sales grew by 16.5% year-on-year, while exports increased by 36.5%. The company explained that this strong export growth is expected to continue in the second, third, and fourth quarters of this year, driven by ODM/OEM shipments to Zimmer Biomet for the U.S. market and growth in the Central and South American markets.

Lee Dongwon, CEO of Osteonic, stated, "Since ODM/OEM exports to the U.S. for Zimmer Biomet began in May, U.S. sales related to Zimmer Biomet were not reflected in the strong first-quarter results. We expect related volumes to gradually increase from the second quarter, leading to further growth."

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