APR Approaches 400 Billion KRW in Sales Last Year, 'All-Time High'... "Trillion KRW Scale IPO Likely"

Global beauty tech company APR (CEO Kim Byung-hoon) announced on the 30th that it recorded nearly 400 billion KRW in sales last year and more than doubled its operating profit compared to the previous year.

The company evaluated, "By renewing its record-high performance once again, the possibility of a successful listing with a corporate value exceeding the trillion KRW level has increased."

APR disclosed through the Financial Supervisory Service's electronic disclosure system on the 29th that it recorded annual sales of 397.7 billion KRW and an operating profit of 39.2 billion KRW last year. Compared to the previous year, sales increased by 53.5% and operating profit rose by more than 174.8%, marking the highest figures in history. APR recorded annual sales of 259.1 billion KRW and operating profit of 14.2 billion KRW in 2021, and sales of 219.9 billion KRW and operating profit of 14.5 billion KRW in 2020.

The biggest driving force behind last year's strong performance was the beauty business. Among them, the success of the beauty device specialized brand AGE-R stood out. Since unveiling its first product, 'Derma EMS,' in March 2021, AGE-R expanded its lineup by adding 'Ussela Deep Shot' and 'ATS Air Shot' in March last year, rapidly growing in the era of home beauty. Starting in July, the new product 'Booster Healer,' focusing on skin absorption rate, joined the lineup, boosting sales. Throughout last year, AGE-R sold approximately 600,000 units domestically and internationally, generating sales of 110 billion KRW.

Besides AGE-R, other beauty business brands also showed excellent performance. Medicube, Aprilskin, Forment, and Glam D. Bio all recorded rising performance curves last year. These beauty brands accounted for about 75% of APR's total performance.

The overseas market also held an important position. APR's total overseas sales last year amounted to 143.7 billion KRW, representing 36.1% of total sales and a 36.2% growth compared to 2021. AGE-R played a significant role by selling about 90,000 units in Japan, where interest in K-beauty is high, following its domestic success. Currently, AGE-R achieves about 30% of its total sales volume and revenue from overseas markets. Despite facing significant difficulties due to China's zero-COVID policy, the street fashion brand NERDY also succeeded in maintaining its sales growth. Recently, NERDY's successful entry into Vietnam plans to strengthen its foundation based on overseas markets such as China, where reopening has begun, and newly developed Southeast Asia.

This year, APR is embarking on establishing itself as a genuine global beauty tech company through investments in R&D and production facilities. To this end, APR has established a research-specialized subsidiary, 'ADC' (APR Device Center), and is formulating various investment plans. Once the results of these investments are on track, APR is expected to succeed in building a 'vertical process' that internalizes all processes from planning, development, production, to distribution of beauty products, especially devices, and continuously unveil unprecedented proprietary beauty products.

Additionally, APR is accelerating its successful listing plan, recognizing a corporate value exceeding the trillion KRW level. The fact that APR has grown into a company aiming beyond 200 billion KRW in sales and recorded an operating profit margin close to 10%, including 16.2% in the fourth quarter of last year, is evaluated very positively. Since APR was already valued at 700 billion KRW through a pre-IPO before the performance disclosure, the company explains that there is little difficulty in estimating a corporate value exceeding the trillion KRW level.

Kim Byung-hoon, CEO of APR, stated, "The good performance resulted from beauty devices that embody the technological capabilities befitting a global beauty tech company and achievements in newly developed overseas markets," adding, "Based on APR's future value, we will continue to do our best for corporate value estimation exceeding the trillion KRW level, successful listing, and further overseas market development."