Cosmetics and Beauty Devices Drive Overall Performance
Beauty Sector Surpasses Last Year's Total Sales After Three Quarters
APR set a new record for the highest quarterly sales in its history in the third quarter of this year. Operating profit also continued its growth trend.
APR announced on the 6th that its consolidated sales for the third quarter of this year were preliminarily estimated at 174.1 billion KRW, a 42.8% increase compared to the same period last year. This is APR's highest quarterly sales to date.
During the same period, operating profit increased by 24.6% to 27.2 billion KRW, while net profit decreased by 12.9% to 16.0 billion KRW.
By business segment, the beauty division led the overall performance with strong growth. The Mediheal AGE-R beauty device division recorded sales of 74.5 billion KRW, driven by new product launches and expansion of global distribution channels. The beauty device segment showed the highest growth rate (62.2%) among all APR business units compared to last year. As of September, cumulative domestic and international sales of beauty devices exceeded 2.5 million units.
The cosmetics division also posted sales of 85.0 billion KRW, a 53.6% increase compared to the same period last year. Mediheal's bestseller, the 'Zero Pore Pad,' maintained solid performance, while the collagen line and new PDRN line boosted results in the U.S. market. Additionally, positive impacts came from character collaboration product launches and the opening of the flagship store 'Space Dosan.'
The combined cumulative sales of APR's beauty division, including beauty devices and cosmetics, reached 431.4 billion KRW in the third quarter, surpassing last year's total beauty division sales of 430.5 billion KRW within just three quarters.
Sales in overseas markets grew by 78.6% year-on-year to 100.3 billion KRW, marking the first time since the company's founding that overseas sales exceeded 100 billion KRW. The cumulative overseas sales up to the third quarter reached 243.5 billion KRW, surpassing last year's total overseas sales of 205.2 billion KRW. By country, the U.S. market showed strong performance with a 123.3% increase year-on-year, boosted by Amazon Prime Day and various other channels. In Japan, the 'Megawari' event generated approximately 9 billion KRW in sales, and in Hong Kong, participation in the '2024 Beauty & Wellness Expo' and entry into various sales channels contributed to positive results.
New distribution channels based on B2B contracts also contributed to growth. APR recorded sales of 23.7 billion KRW in other overseas markets in the third quarter, a 184% increase compared to the previous year. In addition to collaboration with Silicon2, APR is exploring various methods to open new channels, including entering the UK market through 'Pure Seoul' in September.
APR plans to focus on boosting performance in the fourth quarter, the peak season of the year. The company also intends to secure growth momentum by proceeding as scheduled with the PDRN·PN business and the launch of new beauty devices. An APR representative stated, "Thanks to the global achievements of our cosmetics and beauty devices, we were able to set a new record for the highest quarterly sales and continue external growth. Since we have always achieved good results in the fourth quarter since our founding, we will make thorough preparations to achieve the best performance during the year's peak season."
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