Hugel (145020) Q2 2024 earnings summary

Executive summary

• Revenue rose 17.0% year-over-year to KRW 95.4bn in 2Q24, with strong growth in toxin and filler products.

• Net income increased 72.7% year-over-year to KRW 37.0bn, reflecting improved profitability.

Financial highlights

• Operating profit surged 51.6% year-over-year to KRW 42.4bn, with margin up 10.2 percentage points to 44.5%.

• Gross profit reached KRW 71.5bn, up 13.7% year-over-year, though gross margin declined by 2.2 percentage points to 74.9%.

• SG&A expenses fell 16.7% year-over-year to KRW 29.1bn, supporting margin expansion.

Segment performance

• Toxin revenue grew 17.6% year-over-year to KRW 51.0bn; filler revenue rose 20.0% to KRW 36.5bn.

• Cosmetics revenue increased 10.7% year-over-year to KRW 6.6bn; thread revenue declined 28.6% to KRW 1.3bn.

• International toxin & filler sales jumped 41.1% year-over-year to KRW 57.8bn, while domestic sales fell 9.4%.

• Asia Pacific region posted 57.0% year-over-year growth to KRW 39.1bn; EU & Others up 39.2% to KRW 15.2bn.

• North & South America sales declined 32.2% year-over-year to KRW 3.5bn.