Hugel said on the 7th that first-quarter sales on a consolidation basis rose 29.9% from a year earlier to 116.6 billion won. In the same period, operating profit rose 22.3% to 47.6 billion won, and net profit increased 31.5% to 40.6 billion won.
This is the company's highest first-quarter performance on record. The growth was driven by an expansion of overseas business. Overseas sales of botulinum toxin and fillers reached 70.8 billion won, up 46% from a year earlier. In particular, there was an increase of about 21 billion won in sales across the four key markets of the United States, China, Europe and Brazil.
Domestic toxin and filler sales were tallied at 26.7 billion won. The company said it maintained stable growth despite intensifying competition in the domestic aesthetics market, helped by academic seminars for medical staff and expanded medical marketing. For additional growth in the second half, the company also secured distribution rights for ECM (extracellular matrix) products, a next-generation regenerative aesthetics material.
By item, botulinum toxin sales rose 60.6% to 65.4 billion won from the same period a year earlier. With increased shipments to the United States and Brazil, sales in the Americas jumped more than 420%, and growth continued in the Asia-Pacific (APAC) and Europe. As a result, overseas toxin sales more than doubled from a year earlier.
Filler and skin booster sales were 32.1 billion won. Backed by active sales and marketing activities, the company extended its growth for a third straight quarter and posted about 10% growth in Europe and other regions.
Sales in cosmetics and other institutional sectors were 19.2 billion won, up 30.6% from a year earlier. Accounting for about 16% of total sales, the segment is seen as establishing itself as a future growth engine.
Carrie Strom, Hugel's global CEO, said, "We will strengthen our position beyond Korea's No. 1 to become a global leader and continue our growth momentum in the world market."
Jang Doo-hyun, Hugel's Korea CEO, said, "This is the result of a solid business foundation and execution," adding, "We will more aggressively push to strengthen domestic and overseas marketing and diversify our portfolio to deliver remarkable results."