Hyum&c Achieves Record High Sales Last Year... Operating Profit Turns Positive

[Asia Economy Reporter Myunghwan Lee] Huem&c recorded its highest-ever sales last year.

Huem&c announced on the 15th that its consolidated sales last year amounted to 35.6 billion KRW, a 184% increase compared to the previous year. During the same period, operating profit and net profit reached 1.77 billion KRW and 775 million KRW respectively, turning profitable compared to the previous year.

On a quarterly basis, consolidated sales in the fourth quarter of last year reached 10.7 billion KRW, a 309% increase compared to the same period last year. Operating profit during the same period also grew by 125%, recording 480 million KRW.

Huem&c explained that the performance of its subsidiaries Blossom Story and Blossom Pictures, which were decided to be sold on the 1st, was recorded as discontinued operations and thus excluded from this performance.

By business segment, the Glass division recorded 22% growth compared to the previous year, reaching 22.8 billion KRW due to sales growth of ampoules and vials. The Cosmetic division achieved sales of 12.8 billion KRW, a 3% increase compared to the previous year. The company explained that this was due to increased demand for cosmetics following the transition to the COVID-19 endemic phase.

Huem&c plans to strengthen its core healthcare total materials business through the sale of its media content business subsidiaries, while focusing on management efficiency by adjusting its business portfolio. A Huem&c official stated, "While continuing the sales growth trend through active exports, we plan to review various growth strategies such as expanding the third factory, facility investment, research and development (R&D) investment, and mergers and acquisitions (M&A)." He added, "We expect synergies among businesses, including stable sales growth in the Glass division linked to the growth of the pharmaceutical industry due to aging, as well as the Cosmetic division."