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[2019.02.21] Hugel, Inc. posts highest quarterly revenue ever
2019-12-04

Hugel, Inc. posts highest quarterly revenue ever

Hugel reports 4Q 2018 revenue of KRW 58.8bn, showing 17.4% YoY growth

Premium filler ‘The Chaeum Style’ expected to boost sales with full-scale marketing activity in 1H 2019  

BLA for Botulax to be submitted in China in 1Q 2019, targeting marketing approval by year-end


 

 


                                   <Financial Summary 4Q 2018>                                       (Unit: KRW million)


Items

4Q 2018

3Q 2018

4Q 2017

QoQ

YoY

Revenue

58,813

 34,936

50,109 

68.3%

17.4%

Operating Profit

16,196

 5,132

25,053 

215.6%

-35.4%

Net profit

14,055

 23,871

20,675 

-41.1%

-32.0%


 


                                     <Financial Summary FY 2018>                                (Unit: KRW million)


Items

FY 2018

FY 2017

YoY

Revenue

182,392 

182,085

0.2%

Operating Profit

60,354

101,924

-40.8%

Net Profit

75,212 

81,351

-7.5% 


 

 

Hugel, Inc. (145020.KQ) today reported its fourth quarter 2018 financial results, posting a revenue of KRW 58,813mn, an operating profit of KRW 16,196mn and a net profit of KRW 14,055mn.


Hugel’s quarterly revenue experienced 17.4% year-over-year growth to KRW 58,813mn, breaking the previous record of KRW 50,109mn in 4Q 2017. The company’s operating profit has shown recovery from previous quarter, its lowest point, to KRW 16,196mn (OPM: 27.5%). Despite temporary setback during the third quarter caused by sales channel restructuring in Asia, Hugel enjoyed steady growth not only in Korea but also in South America and Europe. The company also attributed its strong performance to ‘Wellage’, its cosmetic brand, which has served as a major growth driver during the fourth quarter.


Thanks to improved market reception in Korea, ‘Botulax’ has achieved full-year revenue of KRW 53.0bn and is expected to further solidify its leading market share in Korea.


The outlook for 2019 is very optimistic. Hugel has established top-level sales and marketing organizations after going through major restructuring in 2018. As a result, Hugel will not only maintain its leading position in Korea but also experience explosive growth in its botulinum toxin product in South America and HA filler product in Europe. During the first quarter, Hugel plans to submit to BLA for ‘Botulax’, which concluded phase 3 clinical trial early last year in China. Once Hugel obtains marketing approval within 6 months of BLA submission, a full-scale commercialization will take place in China by the year-end.


A phase 2 clinical trial for BMT101, Hugel’s RNAi technology-based anti-scarring therapeutics, is currently underway. The global market size for hypertrophic scar is estimated to be around $5bn and Hugel currently holds Asia market exclusivity.


Hugel also expects to start full-scale marketing activity for its premium HA filler, ‘The Chaeum Style’, which was launched last year. ‘The Chaeum Style’ is a premium product that provides smoother injection experience compared to existing products. With the addition of ‘The Chaeum Style’, Hugel now boasts the largest HA filler portfolio in Korea with 13 products.


Hugel’s CEO, Jihoon Sohn, stated, “This year will be a very important year for Hugel to expand its global footprint as we are nearing marketing approval in China and expecting commercialization of ‘Botulax’ in Taiwan in second quarter.” He also added, “We will strengthen our competitiveness as a global biopharmaceutical company by entering new markets, including the Big 3 markets, as well as focusing on pipeline expansion.

 

 

 

 

 

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