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[2018.07.25] Hugel, Inc. achieves 2Q revenue of KRW 42.9bn, operating profit of KRW 19.7bn, OP margin of 45.8%

Hugel, Inc. achieves 2Q revenue of KRW 42.9bn,  operating profit of KRW 19.7bn, OP margin of 45.8%

2Q revenue of KRW 42.9bn (-7.1% YoY) and operating profit of 19.7bn ( -28.1% YoY)

Revenue growth expected in 2H 2018 due to growth in Latin America and export recovery in Asia


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Hugel, Inc. (145020.KQ) tentatively released 2Q 2018 consolidated financial performance on July 25th, stating that the company has achieved a revenue of KRW 42,865mn, an operating profit of KRW 19,652mn, and a net profit of KRW 18,187mn.

The company’s 2Q revenue and operating profit fell by 7.1% YoY and 28.1% YoY, respectively, and operating profit margin was 45.8%.

Hugel attributed continued revenue decline to delayed recovery of exports for toxin and HA filler in Asia. Additionally, increased expenses, including TV advertising for Wellage cosmetics, resulted in decreased operating profit.

Despite underperformance during 2Q 2018, Hugel anticipates overall sales recovery in Asia and strong performance from Botulax in fast growing markets of Latin America and Eastern Europe, especially in Brazil and Russia, in which it was recently approved. Hugel also plans to strengthen its marketing effort for The Chaeum in order to further bolster its position in the domestic facial HA filler market. In addition, Hugel will be co-promoting its recently approved penile enhancement HA filler with Hanmi Pharma to target domestic urology market.

Botulax is currently marketed in 26 countries and is expected to enter the big 3 markets such as US, Europe, and China soon. The Chaeum (Dermalax) is currently exported to 14 countries and is expecting approvals in 6 additional countries, including China, Brazil, and Chile.

Recently, phase I clinical trial for BMT-101, RNAi technology-based anti-scarring therapeutics, was completed and phase 2 clinical trial will begin shortly. As for Hugel’s derma-cosmetic business, Wellage, it has expanded its sales channel to 700 stores of Olive Young, Korea’s renowned H&B store.

Hugel’s CEO, Jihoon Sohn, stated, “We will continue to distinguish ourselves in the global market by concentrating our resources and manpower to open up new market opportunities.”









Prev [2018.10.25] Hugel, Inc. achieves 3Q revenue of KRW 34.9bn, operating profit of KRW 5.1bn
Next [2018.04.25] Hugel, Inc. achieves 1Q revenue of KRW 45.8bn, operating profit of KRW 22.4bn, OP margin of 48.9%