APR, 1Q Sales 148.9 Billion KRW... Up 21.9% YoY

Operating profit 27.8 billion KRW... 19.7% increase YoY
Overseas sales up 73.5%... US sales 24.8 billion KRW

APR announced on the 2nd that its consolidated sales for the first quarter of this year reached 148.9 billion KRW, marking a 21.9% increase compared to the same period last year.

During the same period, operating profit recorded 27.8 billion KRW, up 19.7%, and net profit was 24.1 billion KRW, an 18.7% increase.

APR Q1 2024 Revenue.
[Image provided by APR]

With this, APR has surpassed 120 billion KRW in sales and 20 billion KRW in operating profit for six consecutive quarters.

The beauty division led the overall first-quarter performance with sales of 132.2 billion KRW. In particular, the synergy effect from the combined use of the 'MediCube AGE-R' beauty device and cosmetics drove simultaneous growth in both beauty devices and cosmetics. Both sectors recorded quarterly sales exceeding 65 billion KRW.

In the beauty device business, APR introduced the next-generation product 'Booster Pro,' while also launching new products such as 'Zero One Day Exosome Shot' and 'Deep Vita A Retinol Serum' in the MediCube cosmetics line. Other beauty brands including Aprilskin also posted solid results centered on popular products.

Overseas performance showed steady growth across all global regions including the United States, Japan, and Hong Kong. With the global launch of Booster Pro and increased brand awareness of MediCube, overseas sales in the first quarter of this year rose 73.5% year-on-year to 66.1 billion KRW.

In particular, in the United States, the Booster Pro launch promotion and the success of the New York pop-up store generated sales of 24.8 billion KRW in a single quarter. The growth rate of beauty device sales in the U.S. market reached 401.7% compared to the same period last year. In Hong Kong, the official mall’s average daily subscriber growth rate reached 250%, and in Japan, achievements included ranking first in the Qoo10 beauty category following the success of the Mega-Wari promotion.

APR has set 'technology' and 'global' as the key themes for growth in 2024 and plans to do its best to achieve these goals. To this end, it plans to launch new products incorporating innovative beauty tech in the first half of the year and complete the construction of its second plant in Pyeongtaek. Additionally, APR will continue to pioneer global distribution channels by combining direct and indirect market entries, focusing on beauty products.

An APR official stated, "Since its founding, APR has continuously grown, and the first-quarter results this year prove that the growth momentum has not slowed even after listing. We will do our best to maintain this growth trend throughout the year."