Humedics Reports Q1 Operating Profit of 4.3 Billion KRW, Up 63% Year-on-Year

[Asia Economy Reporter Lee Gwanju] Humedix announced on the 16th that it recorded an operating profit of 4.3 billion KRW on an individual basis in the first quarter of this year, a 63% increase compared to the same period last year. Sales amounted to 26.9 billion KRW, and net profit was 11.4 billion KRW, growing 24% and 365% respectively compared to the previous year.

Humedix showed steady growth across all business areas including aesthetics, contract manufacturing organization (CMO), and overseas exports. In particular, the aesthetics and CMO businesses led the growth with increases of 26% and 18% respectively compared to the previous year.

In the aesthetics business, demand for fillers (Ellavie Premier, Revoline) and botulinum toxin (Liztox) increased, and the volume of overseas filler exports, which had slowed due to COVID-19, also rebounded.

In the CMO business, sales grew due to increased orders for eye drops, raw pharmaceutical materials (HA), and specialty pharmaceuticals. The increase in sales and orders led to higher operating rates and productivity, resulting in growth in operating profit as well.

Net profit included a fair value gain of 7 billion KRW from the dissolution of the subsidiary Huons Medical. Huons Medical was absorbed and merged into Huons Medicare in February, and only the January performance was included in Humedix’s first-quarter results. Accordingly, compared to the consolidated results of the first quarter last year, sales and operating profit decreased by 6% and 4%, respectively.

A Humedix official said, “We achieved strong first-quarter results with steady growth across all business areas. In the second quarter, we will continue this growth trend while focusing on developing key pipelines such as heparin sodium raw pharmaceutical materials, PN joint injections, and PN mesofillers to establish a new growth foundation.”