- Revenue of KRW 74.3bn, operating profit of KRW 24bn, and net income of KRW 22.7bn...15.4%, 29.5%, and 33.8% YoY
growth
- Steady growth across all product lines,
including botulinum toxin, HA fillers, and cosmetics, in both
home and abroad markets
SEOUL, South Korea,
May 9, 2024 /PRNewswire/ -- Hugel, a
global total medical aesthetics company, announced its 1Q24
consolidated financial results on the 9th, reporting
revenue of KRW 74.3 billion,
operating profit of KRW 24 billion,
and net income of KRW 22.7
billion.
With the steady growth of its botulinum toxin and HA fillers
products both at home and abroad, Hugel's revenue increased 15.4%
YoY, achieving an all-time high performance for the first quarter.
Operating profit and net income also surged by approximately 30%
and 34%, respectively, compared to the same period of last
year.
Hugel's botulinum toxin "Botulax (Export name: Letybo)" received
positive reactions in Korea for its large-dose 300 Unit product,
and continued its strong growth momentum with a 46% sales surge in
the Asia-Pacific region, including
Australia, Japan, Thailand, and Taiwan.
For its HA fillers ("THE CHAEUM (Export name: Revolax, Dermalax,
and Persnica)" and "BYRYZN Skinbooster HA"), Hugel continued
various domestic marketing and academic programs to commemorate the
10th anniversary of the launch of THE CHAEUM. Overseas
revenue grew evenly in all regions, including Asia-Pacific, North and South America, and Europe, and as a result, HA fillers grew by
12% YoY.
Driven by new product launches and various sales and marketing
activities, revenue for the derma cosmetics brand "WELLAGE" grew by
50.8% YoY. The suture brand "Blue Rose (Export name: Licellvi)"
also maintained steady growth.
Hugel plans to focus on expanding its domestic and overseas
markets in the second half of the year as well. The company will
conduct various activities, including academic seminars and
training for "Botulax" targeting healthcare professionals both at
home and abroad. Additionally, by providing procedure guides for
each dosage and for combined treatments, it plans to continue
strengthening its position in the global toxin market.
Hugel recently obtained marketing approval for "THE CHAEUM" in
Thailand, Lebanon, and Saudi
Arabia and is now focusing on establishing itself in these
new markets by holding launching seminars and academic marketing
with local key opinion leaders (KOLs).
Hugel is also accelerating sales and marketing efforts to raise
brand awareness for its total skin solution brand "BYRYZN". It
recently aired a TV commercial for its "Skinbooster HA" featuring
actress Na-young, Lee. In April, the company also launched its
high-end cosmetics brand "BR", with plans to develop it into one of
Hugel's core brands.
A Hugel official stated, "All our product lines, including
botulinum toxin, HA fillers, and cosmetics, achieved comprehensive
growth both at home and abroad, allowing us to set a new sales
record for the first quarter. We will devote all our efforts to
establishing aggressive marketing strategies for each brand and
expanding our global market presence to enhance Hugel's corporate
value."
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SOURCE Hugel