Ostem Implant Reports Q2 Operating Profit of 56.2 Billion KRW, Up 64% YoY, "All-Time High"

[Asia Economy Reporter Jang Hyowon] Osstem Implant announced on the 25th that it achieved sales of 265.4 billion KRW and operating profit of 56.2 billion KRW in the second quarter of this year. This represents a 31.7% increase in sales and a 64.2% increase in operating profit compared to the same period last year, marking the largest quarterly performance in the company's history.

A company official stated, "Considering the industry characteristic of improved performance in the second half of the year, achieving annual sales of 1 trillion KRW and operating profit of 170 billion KRW this year is expected to be smooth."

Following strong performance in the first quarter, the second quarter also showed favorable results, making the first half of the year’s performance record-breaking. Sales increased by 33.9% compared to the first half of last year, approaching 500 billion KRW, and operating profit grew by 79.7%, surpassing 100 billion KRW for the first time on a half-year basis. Considering the industry’s tendency for better results in the second half, achieving the annual target of 1 trillion KRW in sales and 170 billion KRW in operating profit is highly likely.

An Osstem Implant official said, "Our main product, implants, continues to show strong sales, and the digital dentistry product line is growing, resulting in stable domestic sales. Above all, despite various external challenges, overseas sales surged significantly, leading to the record-breaking quarterly performance."

In particular, this record performance was driven by overseas sales. The company's overseas sales in the second quarter reached 192.4 billion KRW, showing a sharp growth of 42.3% compared to the same period last year.

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

Especially in the U.S. market, local sales activities are booming, and the premium brand Hiossen, produced and sold by the U.S. subsidiary, has seen a significant increase in exports not only to the U.S. but also to major global markets including China.

Osstem Implant currently operates more than 30 overseas subsidiaries in 26 countries, running a global network, and is planning to establish subsidiaries in regions such as Spain, Austria, the Netherlands, and France.

CEO Eom Taegwan said, "This excellent performance proves that trust in our company and products is solid both domestically and overseas. We will continue to focus on quality innovation through ongoing R&D, strengthen our product lineup, and especially make every effort to target overseas markets."

In this regard, Osstem Implant plans to expand the Hiossen production line in Philadelphia, USA, increasing the production facility size by 2.5 times and boosting product output by 58%.

In the Chinese market, the factory producing implant surgical aids OneGuide and clear aligners has been operating since 2019, and the company plans to expand its sales force to 1,100 employees by 2026.

Osstem Implant is accelerating market expansion by adding new products such as updated versions of CAD software, scanners, milling machines, and 3D printers to its existing full lineup of digital dentistry, and leading the digital orthodontics field with MagicAlign.