Osteonic Achieves KRW 4.2 Billion Operating Profit in First Half, Up 45% Year-on-Year

Osteonic, an orthopedic implant company, announced on August 14 that it achieved consolidated sales of KRW 11 billion and operating profit of KRW 2.7 billion in the second quarter of this year.

Both sales and operating profit reached record highs for a single quarter, with sales growing by 26.9% year-on-year and operating profit increasing by 56.5%. Compared to the first quarter of this year, sales rose by 15.2% and operating profit surged by 83.7%.

Cumulative sales for the first half of the year reached KRW 20.5 billion, with operating profit at KRW 4.2 billion, marking year-on-year growth of 25.5% and 45.3%, respectively.

By product category, the Sports Medicine (soft tissue reconstruction) segment grew by 28.8% year-on-year, the Trauma (upper and lower limb fracture) segment by 12.9%, and the CMF (craniomaxillofacial) segment by 17.4%. In particular, the Sports Medicine segment recorded strong growth of 46.1% compared to the previous quarter, as exports to the United States as ODM/OEM for Zimmer Biomet began at the end of May.

Domestic sales grew by 23.6% year-on-year, while exports increased by 34.4%, continuing the rapid export growth trend into the second quarter.

Lee Dongwon, CEO of Osteonic, stated, "Since the end of May, when we began supplying ODM/OEM export volumes to Zimmer Biomet for the U.S. market, we have been receiving orders almost every month. We expect this positive momentum to continue in the second half of the year." He added, "Given the seasonal pattern where second-half results are always stronger than the first half, we anticipate meaningful annual results this year as well."

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