[Click eStock] "APR, Focus on Black Friday and North American Market Growth"

Daol Investment & Securities analyzed on the 5th that APR is expected to benefit from the Black Friday effect and growth in the North American market.

Park Jong-hyun, a researcher at Daol Investment & Securities, stated in a report on the same day, "The third-quarter earnings this year slightly missed market expectations, but this was mainly due to a preemptive increase in transportation costs in preparation for Black Friday," adding, "Due to these preparations, North American sales are expected to increase significantly in the fourth quarter."

Researcher Park explained, "Based on an analysis of Google Trends and Amazon bestseller data, Mediheal surpassed K-beauty representative brands COSRX and Chosun Beauty in search volume in the North American market," and "especially since the launch of the 'Booster Pro' product in June, Mediheal's North American traffic has steadily increased, and this trend continued in November ahead of Black Friday."

He analyzed, "The flagship product 'Booster Pro' maintains the number one position in the wrinkle and anti-aging device category, and 'Booster Healer' ranked between second and fourth," and "in the cosmetics toner category, 'Zero Pore Pad' also proved its competitiveness by ranking first."

He also forecasted, "Fourth-quarter sales this year are expected to be 212.9 billion KRW (a 40% increase compared to the same period last year), and operating profit is expected to be 39 billion KRW (a 13% increase compared to the same period last year)," adding, "especially, North American sales are expected to reach 59.8 billion KRW, doubling compared to the same period last year."

He continued, "Annual sales in 2025 are projected to grow 28% year-on-year to 883.1 billion KRW, and operating profit is expected to increase 32% to 160.8 billion KRW," noting, "the decrease in sales proportion of the underperforming NERDY brand and the expansion of overseas sales proportion are positive factors, with overseas sales expected to reach 547.4 billion KRW, a 50% increase compared to the previous year."

He added, "In the short term, expansion of B2B retailer contracts in major countries and market penetration into non-core countries will continue," and "in the mid to long term, the expansion of the medical device business will contribute to performance growth."