[Click eStock] "Wontec, Over 30% Sales Growth Expected Next Year... Off-Season Performance Improvement"

[Asia Economy Reporter Lee Jung-yoon] Yuanta Securities stated on the 23rd that Wontec is expected to achieve over 30% sales growth next year as well.

Wontec recorded sales of 20.41 billion KRW and operating profit of 7.98 billion KRW in the third quarter of this year. Although the third quarter is an off-season in the aesthetic industry, performance improved compared to the peak second quarter, suggesting enhanced product competitiveness.

Additionally, the operating profit margin improved significantly to 39.1% compared to the previous quarter. This indicates an increased sales proportion of high-margin consumables, which can be interpreted as a rise in the number of Olizio procedure users.

Furthermore, the sales items and sales destinations are diversifying. In terms of products, laser equipment La Vie en, and in terms of countries, export performance to Brazil improved.

The cumulative export ratio of Wontec in the third quarter was identified as 53%, an increase of 12 percentage points compared to 2021. Among domestic aesthetic companies, many have export ratios exceeding 70%. In October 2022, Olizio obtained certification from the U.S. Food and Drug Administration (FDA). In January of the same year, the Picocare Majesty product also received FDA certification. Based on FDA certification, full-scale entry into the North American market is expected to begin next year.

This year’s expected sales are 81.2 billion KRW, and operating profit is projected at 24.1 billion KRW. The cumulative sales for the third quarter were 57.25 billion KRW, and operating profit was 17.24 billion KRW. Considering that the fourth quarter is the peak season in the aesthetic industry, the realization of these projections is judged to be highly likely.

Researcher Kwon Myung-jun of Yuanta Securities explained, "We expect sales growth of over 30% in 2023 as well," adding, "This is because performance improvement is anticipated due to the full-scale entry into the North American market."