Humedix Reports Q2 Sales of KRW 43 Billion and Operating Profit of KRW 10.8 Billion

Huons Group's Humedix Co., Ltd. announced on August 14 that, on a standalone financial statement basis, it recorded sales of KRW 43 billion, operating profit of KRW 10.8 billion, and net profit of KRW 7.9 billion in the second quarter of this year, representing year-on-year decreases of 6%, 17%, and 34%, respectively.

Humedix saw an increase in overseas exports of fillers and cosmetics compared to the first quarter of this year. However, domestic aesthetics based on fillers and botulinum toxin experienced a slowdown in growth due to intensified competition among domestic companies. In addition, sales volume of certain specialty pharmaceuticals, including arthritis treatments, declined, leading to a slight decrease in second-quarter revenue.

In terms of operating profit, a decrease in domestic aesthetics sales and a reduction in contract manufacturing (CMO) orders led to lower factory utilization rates and profitability. Net profit also declined, reflecting reduced operating profitability and foreign exchange translation losses due to a drop in exchange rates.

For the second half of the year, Humedix aims to drive sales growth by diversifying export destinations for fillers and cosmetics, expanding new clients for 'Elravie Litueo,' strengthening its lineup of aesthetic products such as the new 'Olifit Injection,' and diversifying its specialty pharmaceutical portfolio to secure additional CMO orders. The company also expects further improvement in profitability due to diversification of online and offline distribution channels in its cosmetics business and increased overseas filler exports.

Humedix's overseas business continues to show solid growth each quarter, supported by stable sales in China and a significant increase in filler exports to Brazil and other South American regions. In the cosmetics segment, exports to China, Vietnam, and Japan are also rising, further boosting overseas sales.

Humedix recently obtained product approval for fillers in Thailand. The company expects to begin filler exports to Thailand in the second half of the year, establishing a foothold for entry into the Southeast Asian market. Going forward, Humedix plans to expand into new countries, including Southeast Asia, Russia and the Commonwealth of Independent States (CIS), the Middle East, and Central and South America.

The increase in 'Elravie Litueo' sales contributed to partially offsetting the decline in toxin sales. In the second half of this year, the company expects further sales growth through enhanced academic marketing activities such as symposiums.

Kang Minjong, CEO of Humedix, stated, "We are formulating and executing strategies to further strengthen Humedix's influence in the domestic and global aesthetics markets. We will continue multifaceted efforts for sustainable growth, including strengthening sales and marketing through recruitment of outstanding talent, expanding new business through external pipeline introductions, launching new products through collaborations with aesthetic companies, and expanding sales channels."

Meanwhile, the increase in 'Elravie Litueo' sales contributed to partially offsetting the decline in toxin sales. In the second half of this year, the company expects further sales growth through enhanced academic marketing activities such as symposiums.

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