APR(278470) said in a filing on the 5th that its preliminary second-quarter results came to 767.5 billion won in revenue and 190.6 billion won in operating profit. The figures rose 134.2% and 134.5%, respectively, from a year earlier.
First-half cumulative revenue was 1.3609 trillion won, the highest ever for a half-year. That equals 89.1% of last year's annual revenue of 1.5273 trillion won. First-half operating profit was 342.9 billion won, about 94.7% of last year's annual operating profit of 362.1 billion won.
Cosmetics and beauty drove the earnings growth. Second-quarter revenue from that segment was 648.3 billion won, up 185.5% from the same period last year. Sales of existing flagship products continued, while the company expanded new product lines and broadened overseas online and offline sales channels.
Overseas revenue rose 178% on-year to 767.5 billion won. The share of overseas in total revenue also climbed to 92%. The share of North America and Europe in total revenue, which was 40% in the same period last year, expanded to 68% in the second quarter.
North American revenue was 376.3 billion won, up 264.6% from a year earlier. The company maintained growth in online channels while widening its offline sales network to major local retailers such as Target and Walmart. APR plans to enter Costco in the second half.
Europe has emerged as the second growth pillar after North America. Second-quarter European revenue was 145.1 billion won, up 380.3% on-year. As the business scaled up, APR began disclosing European results as a separate region starting this quarter.
APR expanded its online distribution network around Amazon and TikTok Shop in the five major European markets of the United Kingdom, France, Germany, Italy and Spain. Starting with Amazon in the United Kingdom late last year, it sequentially entered Amazon in Germany, Spain, Italy and France, and in June it took part for the first time in Amazon Prime Day in Europe.
Revenue in Asia was 121.1 billion won, up 14.5% from a year earlier. Revenue in regions other than North America, Europe and Asia also rose 325% to 61.7 billion won.
The company is also broadening overseas sales channels for beauty devices as well as cosmetics. APR sequentially launched the new product "Booster Pro X2" in June on TikTok Shop and Amazon in the United States, and on TikTok Shop and Amazon in the United Kingdom. It plans to sell the product through local offline channels as well.
An APR official said, "As the growth base built around North America rapidly spreads to new markets such as Europe, the global business has entered a stable growth trajectory," adding, "We will continue to strengthen product and brand competitiveness and pursue growth in overseas markets by expanding our global distribution network."