Ostem Implant Achieves Record Quarterly Operating Profit of 56.2 Billion KRW in Q2

[Asia Economy Reporter Lee Gwan-joo] Osstem Implant announced on the 25th that its sales in the second quarter of this year amounted to 265.4 billion KRW, and operating profit was 56.2 billion KRW.

This represents an increase of 31.7% and 64.2% respectively compared to the same period last year, marking the largest quarterly performance in history. Sales for the first half of the year also rose 33.9% year-on-year to 499.5 billion KRW, and operating profit increased by 79.7%, surpassing 100 billion KRW.

An Osstem Implant official explained, "Our core implant products have continued to show strong sales, and the digital dentistry product line has grown, resulting in stable domestic sales. Above all, despite various external challenges, overseas sales surged significantly, leading to record-breaking quarterly results."

The achievement of this record performance is attributed to the growth in overseas sales. Osstem Implant's overseas sales in the second quarter reached 192.4 billion KRW, a 42.3% increase compared to the same period last year.

Among overseas markets, China, which accounts for the largest share, experienced a resurgence of COVID-19 and city lockdowns, but local dental clinics proactively secured stable inventory in advance, resulting in sales of 72.6 billion KRW, a 28.2% growth. The United States also showed growth with sales increasing by 47.9% to 41.2 billion KRW, and Russia recorded a 66.4% increase to 24.2 billion KRW.

In particular, the U.S. market is thriving with active local sales, and the premium brand "Hiossen," produced and sold by the U.S. subsidiary, is receiving favorable reviews not only in the U.S. but also in major markets worldwide including China. Osstem Implant plans to expand the Hiossen production line in Philadelphia, increasing the production facility size by 2.5 times and boosting product output by 58%.

Furthermore, to expand its global network, the company is planning to establish subsidiaries in Spain, Austria, the Netherlands, and France in addition to its existing 30 overseas subsidiaries in 26 countries. Since 2019, the China market has operated a factory producing implant surgical aids such as OneGuide and clear aligners, and plans to expand its sales force to 1,100 employees by 2026.

Um Tae-kwan, CEO of Osstem Implant, stated, "This excellent performance proves that trust in our company and products is solid not only domestically but also in overseas markets. We will continue to focus on quality innovation and strengthening our product lineup through ongoing R&D, and especially dedicate ourselves to expanding our presence in overseas markets."