Hugel (145020) Q2 2024 earnings summary

Executive summary

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

• Operating profit rose 51.6% year-over-year to KRW 42.4bn, with margin expanding to 44.5%.

• Net income surged 72.7% year-over-year to KRW 37.0bn, with net margin improving to 38.8%.

Financial highlights

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

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

• Pre-tax income increased 53.8% year-over-year to KRW 47.5bn.

Outlook and guidance

• International sales, especially in Asia Pacific and EU & Others, showed robust growth, indicating continued global expansion.