Hugel (145020.KQ) posted its highest-ever first-quarter earnings, driven by expanded exports of its global botulinum toxin and dermal fillers. Overseas sales surged, led by the United States and Brazil, fueling the company's growth.
Hugel reported first-quarter revenue of 116.6 billion won ($84 million) and operating profit of 47.6 billion won ($34 million) on a consolidated basis, the company said Monday. The figures represent year-on-year increases of 29.9% and 22.3%, respectively. Net profit rose 31.5% to 40.6 billion won.
The earnings improvement was largely driven by expansion of the global business. Combined overseas sales of its flagship botulinum toxin and filler products reached 70.8 billion won, up 46% year-on-year. In particular, sales in key markets including the United States, China, Europe and Brazil grew by approximately 21 billion won.
By product, the botulinum toxin segment showed notable growth. Toxin sales reached 65.4 billion won, up 60.6% year-on-year. Driven by expanded shipments to the United States and Brazil, sales in the Americas surged more than 420%, with balanced growth also seen across Asia-Pacific (APAC), Europe and other regions.
Sales of fillers and skin boosters totaled 32.1 billion won. The segment continued its growth for a third consecutive quarter on the back of active sales and marketing activities, recording growth of about 10% in Europe and other regions.
The domestic market also maintained a steady trajectory. Combined domestic sales of toxin and fillers reached 26.7 billion won, supported by expanded academic seminars for medical professionals and strengthened medical marketing. The company said it has also laid the groundwork for additional growth in the second half through measures including securing distribution rights for ECM products.
Cosmetics and other segment sales rose 30.6% year-on-year to 19.2 billion won. Accounting for approximately 16% of total revenue, the segment is establishing itself as a new growth pillar for the company.
"We will strengthen our position in the global market and continue our growth momentum," Hugel Global CEO Carrie Strom said. "Beyond being No. 1 in Korea, we will establish a solid positioning as a global leader."
