[Click eStock] "BioPlus, Record Q4 Performance... More Expectations for 2025"

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Hanyang Securities analyzed on the 17th that BioPlus is expected to achieve its highest performance in the fourth quarter of this year, with even higher growth anticipated next year.

Lee Jun-seok, a researcher at Hanyang Securities, stated in a report on the same day, “BioPlus is expected to record sales of 23.2 billion KRW in the fourth quarter of this year, a 43.6% increase compared to the previous year, and operating profit of 9.57 billion KRW, a 52.4% increase year-on-year, achieving the highest quarterly performance.” He added, “This is the result of the full-scale effects of restructuring and distribution structure reorganization, representing a 22.4% increase compared to the previous highest quarterly sales (18.96 billion KRW in Q2 2023).”

In particular, the expansion of direct exports and acquisition of new clients led to improved sales efficiency. With increasing demand for HA fillers in Brazil and Europe, HA filler sales alone are expected to reach approximately 18 billion KRW. The reorganization of the distribution structure led to an increase in profit margins, and securing overseas bases laid the foundation for expanding global customers.

Currently, the HA filler market is dominated by BDDE crosslinkers, but BioPlus is presenting a new paradigm with DVS crosslinker-based HA fillers. DVS offers excellent viscosity, cohesion, and durability. After 10 years of research and development, the DVS-based HA filler has proven its safety and global competitiveness, with over 90% of sales coming from exports. There is an expectation for increased penetration of DVS-based products in the BDDE-centered market in the future.

The researcher explained, “BioPlus is projected to achieve annual record performance in 2025 with sales of 109.89 billion KRW (an 81.6% increase year-on-year) and operating profit of 47.89 billion KRW (a 146.6% increase year-on-year). This reflects the continuous increase in HA filler demand from global customers and the expansion of new product sales.”

He continued, “Currently, the factory utilization rate has reached about 90%, and the new factory in Eumseong is in the final stages of completion. Additional contributions from existing adhesion prevention agents and cosmetics sales worth 10 billion KRW are expected to further improve next year’s performance.”

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