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[2019.05.10] Hugel, Inc. posts first quarter financial results, showing solid performance

Hugel, Inc. posts first quarter financial results, showing solid performance
- 1Q revenue of KRW 49.1bn (7.3% YoY) and operating profit of KRW 16.4bn (2.4% QoQ)   

- Powered by global/domestic sales increase and evident growth in cosmetic business


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1Q 2019

 4Q 2018

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Operating profit






Net profit






Hugel, Inc. (145020.KQ) reported today its first quarter 2019 financial results, posting a revenue of KRW 49,119mn, an operating profit of KRW 16,430mn and a net profit of KRW 14,059mn.

The total revenue experienced a 7.3% YoY growth and its operating profit, a 2.4% QoQ growth with an OPM of 33.4%. Despite it being a low-demand season, the company achieved solid results, powered by increases in global/domestic sales and an evident growth in its cosmetic business.

Domestic revenue for Hugel’s botulinum toxin (BoNT) product, ‘Botulax’, and HA filler product, ‘The Chaeum’, grew by 25% YoY and 91% YoY, respectively. Strong growth was driven by a continued synergy effect of BoNT and HA filler. Hugel now boasts a full line-up of HA filler products with the addition of ‘The Chaeum Style’ in March.

Hugel strengthened its HA filler business through diversification of its sales channel, namely in Latin America and Europe. Since the end of last year, Hugel’s HA filler products started to show strong growth in Europe and the company is expected to further solidify its position in the global HA filler market.

At the end of April this year, the company submitted a Biologics License Application (BLA) in China for its BoNT product and will receive final marketing approval in 1Q 2020 at the latest. Within the next 3 years, the company expects to generate sales in all the major markets, including Europe by 2021 and the US by 2022.

In addition to steadily increasing sales in Russia and Brazil, the company also expects to generate meaningful sales in Taiwan, commencing second quarter, 2019.

“Our company achieved a solid performance this quarter, despite the fact that it is typically a low-demand season,” said the company official. “We will not only expand our global footprint through entry to new markets and rapid penetration but also continue to increase domestic sales through synergy effect of BoNT and HA filler.


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