JVM Reports 37 Billion KRW in Q2 Sales, Up 36.7% Year-on-Year

Operating Profit 5.9 Billion KRW · Net Profit 4.6 Billion KRW
Quarterly Record High Sales
North America Exports Surge 129.7%

[Asia Economy Reporter Lee Gwan-joo] JV M, a subsidiary of Hanmi Science, announced on the 28th that its sales in the second quarter of this year reached 37 billion KRW, a 36.7% increase compared to the same period last year. This is JV M's highest quarterly sales ever.

During the same period, operating profit was 5.9 billion KRW and net profit was 4.6 billion KRW, growing by 76.9% and 103.9%, respectively. The domestic share of second-quarter sales was 55.6%, while overseas markets such as Europe and North America accounted for 44.4%. JV M invested 2.3 billion KRW, equivalent to 6.2% of sales, in research and development (R&D) to create future growth engines.

JV M explained that the visible growth in both domestic and overseas businesses contributed to the increase in second-quarter sales. In the domestic market, sales grew 30.4% year-on-year due to expanded new demand for ATDPS (Automated Tablet Dispensing and Packaging System) and increased orders before packaging price hikes.

In overseas markets, the COVID-19 pandemic caused a global shortage of pharmacy staff, leading to a surge in demand for automated drug dispensing equipment and automation systems, resulting in a 45.6% increase in exports compared to the same period last year.

Notably, sales in the North American market grew by 129.7%, showing remarkable results. This is attributed to increased adoption of automated drug dispensing equipment in North American retail pharmacies and LTC (Long Term Care) markets, as well as growing interest in the 'pouch medication system' that provides high-quality medical services to chronic patients, which boosted purchases of JV M's flagship product, ATDPS.

A JV M official said, “JV M, which provides comprehensive safety management solutions for full automation of hospitals and pharmacies, currently holds the number one global market share in pouch-type automated dispensing systems, demonstrating high technological capability.” He added, “Based on innovative technology, we will firmly establish ourselves as a promising industry in the post-COVID era and further enhance our future value.”