JVM Surpasses 100 Billion KRW in Cumulative Sales for First Three Quarters Since Establishment

Q3 Revenue 34.2 Billion KRW... 11.7% Increase YoY
Operating Profit 5.7 Billion KRW · Net Profit 4.6 Billion KRW

[Asia Economy Reporter Lee Gwanju] JV M, a subsidiary of Hanmi Science, announced on the 27th that its consolidated sales for the third quarter of this year reached 34.2 billion KRW, an increase of 11.7% compared to the same period last year.

Operating profit and net profit were preliminarily estimated at 5.7 billion KRW and 4.6 billion KRW, growing by 61.8% and 2.3%, respectively. The company invested 2.4 billion KRW, equivalent to 6.9% of sales, in research and development (R&D) to secure future growth engines.

JV M's cumulative sales from the first to the third quarter of this year amounted to 102.7 billion KRW, surpassing 100 billion KRW within three quarters for the first time since its establishment in 1977. Last year, the company recorded cumulative sales of 115.8 billion KRW over four quarters.

JV M is a global leading company in the field of automated pharmaceutical dispensing and automation. The company explained that this growth is attributed to the expansion of non-face-to-face medical demand following the COVID-19 pandemic and the rising popularity of pouch-type dispensing methods for hygiene and convenience. The global shortage of pharmacy staff has also led to increased demand for pharmacy automation systems.

Among third-quarter sales, exports increased by 12.9% to 16.2 billion KRW, while domestic sales rose by 10.7% to 17.9 billion KRW. The sales ratio by market is 52.5% domestic and 47.5% export (North America 20.9%, Europe 19.1%, others 7.5%). Notably, cumulative sales in the North American region increased by 60.5% compared to last year.

A JV M official stated, “As global demand for pharmacy automation systems is rising and convenient pharmaceutical dispensing methods are spreading due to the expansion of non-face-to-face medical care, JV M’s future growth value is also increasing. We will do our best to lead the global market based on the company’s unique technology accumulated over decades.”