Ostem Implant, Q1 Sales Reach 234.1 Billion KRW... Up 36% YoY

원본보기 아이콘

[Asia Economy Reporter Lee Gwan-joo] On the 26th, Osstem Implant announced its preliminary earnings for the first quarter of this year, reporting sales of 234.1 billion KRW, a 36% increase compared to the same period last year. Operating profit reached 51.2 billion KRW, more than doubling from the previous year.

The sales represent the highest first-quarter performance in the company's history, and operating profit surpassed 50 billion KRW for the first time in a quarter. An Osstem Implant official explained, "The first quarter saw expanded sales from overseas subsidiaries, continued strong implant sales, and growth in the digital dentistry product line, which contributed to increased growth potential."

The growth of overseas subsidiaries was particularly notable. Osstem Implant's overseas sales in the first quarter amounted to 168 billion KRW, a 58% increase compared to the same period last year. Major subsidiaries in China, Russia, and the United States showed remarkable growth, with China’s first-quarter sales up 56%, Russia’s up 59%, and the U.S. up 76% year-on-year. In the U.S., the HiOssen implant brand under the American subsidiary gradually strengthened its position, driving profit growth.

Earlier, Osstem Implant set its sales target for this year at 1 trillion KRW and an operating profit target of 170 billion KRW. The company plans to launch various new implant-related products this year, and in the digital field, new versions of CAD software, oral scanners, milling machines, and 3D printers will be released. In the first quarter, the company also entered the orthodontics field by launching the clear aligner 'MagicAlign.'

Osstem Implant also plans to expand its global network. Currently operating 30 overseas subsidiaries in 26 countries, the company intends to enter more than five additional countries this year, including Spain. The production facility in Philadelphia, USA, will be further expanded to increase annual production by approximately 58% compared to last year within the second half of this year. Additionally, the company aims to further increase its overseas market share through product diversification, operating direct sales organizations for localized services, and clinical education for dentists.

Um Tae-kwan, CEO of Osstem Implant, said, "Although we experienced temporary profit damage last year due to an employee embezzlement issue, we made every effort to normalize the business, resulting in high performance in the first quarter and maintaining a high-growth trend. Thanks to the steep performance growth of overseas subsidiaries, we will not only achieve 1 trillion KRW in sales this year but also actively consider various M&As in fields that can create synergy with existing businesses, taking a step closer to realizing our vision of becoming the world’s No. 1 implant company by 2026."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.