Hugel Reports Q2 Sales of 67.4 Billion KRW and Operating Profit of 22.3 Billion KRW... "Strong Performance in Global Market"

[Asia Economy Reporter Lee Gwan-joo] Hugel announced on the 10th that it recorded consolidated sales of 67.4 billion KRW, operating profit of 22.3 billion KRW, and net profit of 15.4 billion KRW in the second quarter of this year.

Thanks to strong performance in the global market, sales achieved the highest figure ever recorded for the second quarter. Operating profit decreased by about 16% compared to the same period last year due to pre-investments in the US, Canada, and Australia markets, which the company aims to enter.

By product category, the botulinum toxin brand ‘Botulax’ continued stable growth with sales increasing about 7% compared to the same period last year. In particular, overseas sales surged by 40% year-on-year, driven by significant increases in Southeast Asia and Latin America. Since the first shipment to France and Austria in March, sales in Europe have officially begun with product launches in the UK and Germany.

The hyaluronic acid (HA) filler brand ‘The Chaeum’ is also showing gradual growth in European markets such as the UK, Sweden, Poland, and Norway, while maintaining the number one market share domestically since 2019. Sales of cosmetic brands ‘Wellage’ and ‘[PR]4 (PR4)’ also grew about 60% compared to the same period last year. Especially, Wellage’s ‘Real 2.0 Lifting Capsule Ampoule’ achieved sales of 10 billion KRW from January to July this year in the home shopping channel, where securing continuous sales for a single product is difficult.

Hugel plans to focus on expanding Botulax’s overseas markets in the second half of the year. While launching products in major European countries where product approval was obtained in the first half of this year, the company will also accelerate obtaining approvals in 12 countries including Hungary, Belgium, Denmark, and Norway. Marketing activities in China, which had slowed due to lockdowns in major cities caused by the spread of COVID-19, will also resume.

A Hugel official said, “Hugel is making every effort to enter the toxin markets in 59 countries and the HA filler markets in 53 countries worldwide, including China and Europe, and next year the US, Canada, and Australia.” He added, “Along with expanding the global market, we will continuously invest in expanding our product pipeline and sustain both external and internal growth befitting a global leading company.”