Medical aesthetics demand lifted first-half revenue, profit and income to record highs even as U.S. direct sales spending weighed on second-quarter operating profit growth.
Hugel reported its strongest first half on record, with consolidated net sales rising 27.2% year on year to KRW254.5 billion, operating profit up 8.4% to KRW103.7 billion and net income climbing 23.5% to KRW85.3 billion. The South Korea-listed medical aesthetics company said demand for botulinum toxin and hyaluronic acid dermal fillers and skinboosters, along with continued momentum in cosmetics, drove the gains across Korea and overseas markets. Second-quarter net sales increased 25.1% to KRW137.9 billion and net income rose 17.1% to KRW44.7 billion, while operating profit was KRW56 billion, flat from a year earlier and up 17.6% sequentially. Hugel said a 1.1% on-year decline in second-quarter operating profit reflected strategic investments tied to the rollout of U.S. direct sales operations and marketing. Overseas business remained the larger contributor, accounting for 67% of second-quarter net sales, while first-half sales in the Americas more than doubled and Asia-Pacific and Europe & other markets each grew in the mid-to-high 20% range.