Humedics Reports Operating Profit of 27.3 Billion KRW Last Year, Up 71% Year-on-Year

Sales Revenue Up 11%·Net Profit Up 134%
Balanced Growth in Core Businesses Including Aesthetic and CMO

Humedics Second Factory. / Photo by Humedics

[Asia Economy Reporter Myunghwan Lee] Humedix announced on the 25th that its operating profit on an individual basis last year reached 27.3 billion KRW, a 70.9% increase compared to the previous year (consolidated basis). During the same period, sales grew by 11% to 123.2 billion KRW, and net profit surged by 134.3% to 23.5 billion KRW.

This represents the best performance in the company's history, according to Humedix. The company emphasized that it showed balanced growth across all business areas, including aesthetics, active pharmaceutical ingredients, and contract manufacturing organization (CMO) services.

In the aesthetics business, as the operating environment recovered to pre-COVID-19 levels, demand for aesthetics centered on fillers and botulinum toxin increased. Sales growth was driven by expanding filler exports to Brazil and Latin America following China. In the CMO business, sales increased due to higher orders for eye drops, active pharmaceutical ingredients (HA), and specialty pharmaceuticals. As sales increased, operating rates and productivity improved, leading to better operating profits.

Net profit showed growth as it reflected gains from the disposal of shares following the merger of the subsidiary Huons Medical into Huons Meditech in February last year.

Humedix plans to enter the heparin sodium active pharmaceutical ingredient market, which has so far relied on Chinese imports. Additionally, starting this year, the company plans to expand its new vial injection production line to broaden its new product lineup.

Jinhwan Kim, CEO of Humedix, stated, "We recorded balanced growth across all business areas and achieved the highest sales ever, surpassing 120 billion KRW in annual sales. This year, we will continue to secure new growth engines by establishing export bases for existing product lines in new overseas markets such as China, Europe, and Latin America."