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[2019.11.12] Hugel reports revenue of KRW51.1bn and operating profit of KRW18.2bn Navigating the domestic and overseas markets via toxin and HA fillers
2019-12-04

< Tentative Earnings Release >

Hugel reports revenue of KRW51.1bn and operating profit of KRW18.2bn

Navigating the domestic and overseas markets via toxin and HA fillers

- 3Q operating profit up 254.9% YoY, revenue up 46.4% YoY

- Gained no. 1 market share for domestic toxin and HA filler, exports also up significantly

 


< Financial Summary 3Q 2019>                                                                                           (Unit: KRW million)


Items

3Q 2019

 2Q 2019

3Q 2018

YoY

QoQ

Revenue

51,142

50,286

34,936

46.4%

1.7%

Operating profit

18,217

15,972

5,132

254.9%

14.1%

Net profit

12,065

12,828

23,871

-49.5%

-5.9%


Hugel’s botulinum toxin and HA filler business continues to deliver solid growth in both domestic and overseas markets.


Hugel, a global total medical aesthetic company, today reported its 3Q 2019 financial results, posting revenue of KRW51.1bn, operating profit of KRW18.2bn and net profit of KRW12.1bn.


Revenue and operating profit both significantly increased by 46.4% YoY and 254.9% YoY, respectively. Operating profit margin improved by 3.9%p QoQ to 35.6%.


The company cited the high growth of botulinum toxin and HA filler as the background of its achievements. Revenue of both products were up approximately 53% YoY led by continued market share expansion at domestic and overseas markets.


In particular, Hugel gained no. 1 market share for both botulinum toxin ‘Botulax’ and HA filler ‘The Chaeum’ products, positioning as Korea's representative medical aesthetic company. Botulax further strengthened its leading position in the market as revenue increased 33.4% YoY to KRW15.8bn, sustaining its no. 1 market share for three consecutive years. In addition, HA filler revenue more than doubled YoY to KRW4.9bn driven by differentiated product quality and product portfolio expansion with the launch of premium line-up ‘The Chaeum Style’ in March.


Hugel achieved positive results even in overseas markets. Botulax export revenue in 3Q expanded by 107.9% YoY led by increasing sales to Asian countries. Botulax is currently available in 27 countries. Moreover, HA filler exports in 3Q grew 40.6% YoY as it gained positive feedback from UK and other EU countries based on aggressive marketing activities. In addition, Hugel’s cosmetic brand ‘Wellage’, also saw a slight YoY increase in revenue as its best-selling products gained continued positive response from the market. 


More bright news will be followed. Hugel expects to obtain final approval in China for its toxin product in 1H20 and enter EU and the US market, sequentially. Moreover, Botulax is expected to obtain an additional crow’s feet lines indication in the domestic market in 2H. Hugel plans to expand indications in both aesthetic and therapeutic space. In addition to the fast-growing UK market, Hugel plans to accelerate its market share expansion in other major EU markets such as Germany, Denmark, Sweden and etc.


“Based on systematic marketing activities, Hugel continues to deliver steady revenue growth in various business areas including its representative product, Botulax,” said the company official. “As the no. 1 company in the domestic toxin and HA filler market, we will focus on strengthening our product competitiveness and expanding global market share through steady R&D.”

 

Prev [2020.02.14] Hugel achieves record high annual revenue of KRW200bn Reported 2019 revenue of KRW204.6bn and OP of KRW68.1bn
Next [2019.08.13] Hugel posts 2Q revenue of KRW50.3bn and operating profit of KRW16bn