Hugel (145020) Q3 2024 earnings summary

Executive summary

• Net sales reached KRW 105.1bn in 3Q24, up 23.9% year-over-year, with strong growth in toxin and cosmetics products.

• Operating profit rose 54.5% year-over-year to KRW 53.4bn, with margin improving to 50.8%.

• Net income increased slightly by 1.1% year-over-year to KRW 42.0bn.

Financial highlights

• Gross profit grew 25.2% year-over-year to KRW 82.9bn, with gross margin at 78.8%.

• SG&A expenses decreased 6.9% year-over-year to KRW 29.5bn.

• Pre-tax income was KRW 53.0bn, nearly flat year-over-year.

Segment performance

• Toxin sales surged 40.9% year-over-year to KRW 64.7bn, while filler sales declined 4.4% to KRW 29.9bn.

• Cosmetics sales rose 37.4% year-over-year to KRW 9.0bn; thread sales increased 37.9% to KRW 1.5bn.

• International sales of toxin & filler grew 37.6% year-over-year to KRW 65.3bn, while domestic sales declined 1.4%.

• North & South America sales jumped 62.7% year-over-year to KRW 18.3bn; EU & Others up 59.7% to KRW 15.7bn.