JVM Achieves Record-High Revenue Last Year... Operating Profit Up 8.5%

JVM, a global leading company in automated pharmaceutical dispensing, has once again set a new record for its highest-ever annual revenue, maintaining solid growth across its domestic and overseas businesses.

JVM, an affiliate of Hanmi Science, announced in a disclosure on the 4th that on a consolidated basis last year it posted provisional results of 173.1 billion won in revenue, 33.3 billion won in operating profit, and 28.4 billion won in net profit.

Compared with the previous year, revenue increased by 8.6% and operating profit by 8.5%. Last year, the sales mix by market was 50% domestic and 50% exports (North America 17%, Europe 25%, other regions 8%). The higher share of overseas sales compared with the previous year contributed to the increase in operating profit. R&D investment was also expanded to 10.3 billion won, equivalent to 5.9% of revenue, with a focus on developing new products and securing future growth drivers.

Growth of the flagship products ATDPS and COUNTMATE drove the expansion of exports. In particular, COUNTMATE, an orthogonal-robot-based vial automated dispensing solution launched last year, expanded its sales in the North American market and contributed to JVM’s revenue of 43.1 billion won and operating profit of 5.9 billion won in the most recent fourth quarter.

In the domestic market, JVM is solidifying its position by maintaining the No. 1 market share on the back of its next-generation customized automated dispensing solution lineup. This year, the company plans to fully accelerate its penetration of domestic and overseas markets by launching ATDPS DOC3, a new automated pharmaceutical packaging machine.

DOC3 is a customized piece of equipment designed to reduce the work burden in pharmacy dispensing sites and improve work efficiency. It expands the number of manual dispensing cells from 30 to 60, enabling more efficient management of a wider variety of medicines. It also supports automated dispensing of half tablets and medicines with special shapes, thereby improving both dispensing accuracy and work convenience, and is expected to provide an optimized solution for pharmacy operations.

Jeibibeuem DOC3 product. Jeibibeuem

In overseas markets, with the completion of system upgrade work on MENITH, a pouch automated dispensing solution that applies robotics technology based on a robotic arm, sales are expected to expand, mainly in Northern European countries such as the Netherlands and Germany. In North America as well, positive feedback from end users of COUNTMATE regarding its fast processing speed is continuing, and growth is expected to accelerate further this year.

In the mid- to long-term, the company expects that once large-vial products are launched and MENITH’s performance in Europe begins in earnest, its product portfolio will be further strengthened and it will be able to secure competitiveness even in market environments centered on large pharmacies.

Since being incorporated into Hanmi Science, the holding company of the Hanmi Group, in 2016, JVM has achieved sustainable growth based on the group’s professional management capabilities. Hanmi Pharmaceutical and Online Pharm are responsible for JVM’s overseas and domestic businesses respectively, while JVM focuses on R&D and production for next-generation new products. Hanmi Pharmaceutical currently supplies JVM equipment to 60 countries through 35 global partner companies.

Lee Donghwan, CEO of JVM, said, "Last year, we continued a stable growth trajectory by enhancing customer value through innovative technologies and customized solutions," adding, "This year, we expect our portfolio to grow evenly across the board, both in Korea and abroad, with the expansion of MENITH equipment sales and the launch of DOC3."

He added, "JVM will continue to strengthen its competitiveness as a leading automated dispensing solution company in the global market."

Meanwhile, through "Hanmi Vision Day" held last December, JVM presented its vision of leaping beyond the domestic market to become a global automation solution company, and announced a mid- to long-term plan targeting an average annual growth rate of 24% by 2030.

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