Sales of 84.8 Billion KRW... Largest Q3 Ever
Simultaneous Growth in Botulinum Toxin & HA Fillers
"Botulinum Toxin US Approval Expected in Q1 Next Year"
Hugel announced on the 13th that its consolidated operating profit for the third quarter of this year was tentatively estimated at 34.552 billion KRW, a 39.5% increase compared to the same period last year.
During the same period, sales grew by 20% to 84.817 billion KRW, and net profit increased by 58.4% to 41.576 billion KRW.
Hugel's operating profit for the third quarter is the highest ever recorded for a single quarter, and sales are the highest ever for the third quarter. The cumulative figures for the third quarter also set a new record.
By product category, performance was driven by the simultaneous growth of botulinum toxin and hyaluronic acid (HA) fillers both domestically and internationally. The botulinum toxin 'Botulax' (export name Retivo) maintains its number one market share position in Korea. Overseas, it continues its growth momentum with strong performance in Asia including Thailand, Taiwan, and Japan, as well as in South America and Australia.
The HA filler product lines such as 'The Chaeum' (export names Revolex, Dermalex, Persnica) and 'Bylizen' grew by 40% compared to the same period last year. Domestic sales increased by more than 140% due to strengthened marketing and academic activities. Overseas, sales recorded growth in the 20% range, driven by record quarterly sales in Europe and expanded sales in the Asia-Pacific region.
The dermo-cosmetic brand 'Wellage' showed a 35% sales growth through strategies diversifying distribution channels such as new product launches and entry into duty-free shops. In particular, the synergy effect among the 'Real Hyaluronic 100' series products led to continuous growth in health and beauty (H&B) store sales.
Hugel plans to focus on expanding the global market for botulinum toxin in the fourth quarter as well. In Europe, it recently obtained approval in Switzerland and secured operational rights for all products except the 50-unit product in Europe through consultations with its partner company, Chroma. Sales are also expected to begin in Canada, where approval was obtained last year. Additionally, Hugel anticipates product approval in the U.S. market within the first quarter of next year.
Global expansion of HA fillers will also be pursued. In the European market, Hugel plans to increase market share to 20% within the next three years by expanding sales networks to countries such as the Netherlands and Belgium. Thailand obtained product approval last August and is preparing for a launch within the year. Hugel, as the number one botulinum toxin market share holder in Thailand and the first Korean company to enter the local HA filler, botulinum toxin, and polydioxanone (PDO) suture markets, plans to implement strategies that create synergy among its products.
A Hugel representative said, "We have achieved the highest ever third-quarter sales and the highest ever quarterly operating profit by growing comprehensively not only in Korea but also in the Asia-Pacific and Americas regions. We will make company-wide efforts to enhance brand value and assets in the newly entered countries."
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