Humedics Reports 152.3 Billion KRW in Sales Last Year with 43% Increase in Operating Profit

Humedix announced on the 24th that its individual financial statements for last year showed sales of 152.27381 billion KRW, operating profit of 37.31007 billion KRW, and net profit of 26.48159 billion KRW. These figures represent growth of 23.6%, 43.3%, and 25.2% respectively compared to the previous year.

Humedics logo
Photo by Humedics

The company explained that it showed steady growth across all business areas, including aesthetics, contract manufacturing (CMO), and overseas operations.

In the aesthetics business, the filler 'Elravie Premier' and botulinum toxin (BTX) 'Liztox' succeeded in expanding market share through enhanced product quality and marketing. The cosmetics business also contributed to performance growth as domestic and international sales channels expanded.

Regarding overseas business, exports increased not only due to the rise in filler exports to China but also as exports to Brazil and South America began in earnest. Humedix plans to further expand into Europe, Southeast Asia, Russia, and Commonwealth of Independent States (CIS) countries. The CMO business also saw an increase in prescription drug sales by diversifying its product portfolio through the operation of a new vial injection production line.

In terms of operating profit, the company explained that operating profit significantly increased as sales growth from its core product groups, fillers and prescription drugs, improved utilization rates and productivity.

Humedix plans to continue steady growth this year by strengthening marketing of aesthetic products such as fillers and BTX to increase domestic and international sales, as well as expanding new CMO operations.

Jinhwan Kim, CEO of Humedix, said, “In 2023, we recorded solid growth in both scale and profitability. This year, we will lay a new growth foundation through expanding the bio raw material pharmaceutical business by domestic production of heparin sodium, a new growth engine, and by conducting domestic and international clinical trials and approvals for new aesthetic products such as 'PN Mezo Filler.'”