Regenerative medicine company L&C BIO said on the 27th that last year's sales on a consolidation basis rose 18.5% from a year earlier to 85.5 billion won.
Operating profit last year was about 4.2 billion won, up 66.8% from a year earlier.
The company said robust market expansion of Re2O, an ECM-based skin booster being developed as a next growth pillar, played a key role in driving results.
A skin booster is a procedure that improves the skin by applying or injecting active ingredients that help with skin regeneration, wrinkle improvement, and brightening.
The company said domestic channels and overseas expansion for Re2O began in the third quarter last year, and it expects greater top-line growth this year as production capacity (CAPA) increases.
However, it posted a net loss of 129.1 billion won last year. The company said non-cash factors reflected in accounting, such as derivative valuation losses related to convertible bonds (CB) due to a share price rise and valuation losses at the China subsidiary, affected earnings, and these are accounting valuation items that do not involve cash outflows.
A L&C BIO official said, "Profitability is clearly recovering as the solid growth of our core product line Re2O coincides with improvements in the expense structure," adding, "as market response at home and abroad is accelerating around Re2O, we will make this year a 'year of transition' and strengthen the trajectory of profitability improvement by achieving both top-line growth and structural reform."