Hugel (145020) Q2 2025 earnings summary

Executive summary

• Net sales in 2Q25 reached KRW 110.3bn, up 15.5% year-over-year, with strong growth in botulinum toxin and derma cosmetics.

• Operating profit rose 33.6% year-over-year to KRW 56.7bn, with an operating margin of 51.4%.

• Net income increased 3.3% year-over-year to KRW 38.2bn, with a net margin of 34.7%.

Financial highlights

• Gross profit for 2Q25 was KRW 86.6bn, up 21.2% year-over-year, with a gross margin of 78.6%.

• SG&A expenses were KRW 30.0bn, up 3.0% year-over-year.

• Pre-tax income reached KRW 53.2bn, up 12.2% year-over-year.

Segment performance

• Botulinum toxin sales grew 20% year-over-year, accounting for 56% of product mix.

• Derma cosmetics sales surged 104.5% year-over-year, representing 12% of product mix.

• Dermal filler sales declined 6.5% year-over-year, making up 31% of product mix.

• Thread & others increased 5.9% year-over-year, with a 1% product mix share.