Hugel announced on the 7th that its consolidated financial statements for the second quarter of 2024 showed sales of 95.423 billion KRW and an operating profit of 42.431 billion KRW. Compared to the same period last year, sales increased by 17% and operating profit by 51.6%. Notably, quarterly sales and operating profit each surpassed 90 billion KRW and 40 billion KRW for the first time, setting a record high performance.
By product category, sales of Botulax, a botulinum toxin preparation, increased by 17.6% compared to the same period last year. Sales grew not only domestically but also in global markets, including the Asia-Pacific and European regions. Hyaluronic acid (HA) fillers also achieved stable growth with sales increasing by 20% year-on-year. Sales in the cosmetics sector also rose by more than 10%.
Hugel plans to focus on expanding overseas markets in the second half of the year. Starting with the initial shipment of Botulax (export name Retivo) to the U.S. market at the end of last month, the company will concentrate on establishing a foothold in the North American market, including Canada.
A Hugel representative said, “In the second quarter, Hugel’s flagship products such as toxins and fillers grew comprehensively in the global market, setting record quarterly sales and operating profit. We will continue aggressive marketing activities tailored to local conditions to expand our presence not only in the U.S. but also in countries where Hugel has entered, including Asia-Pacific and Europe.”
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