Hugel (145020) Q4 2024 earnings summary

Executive summary

• Net sales for 4Q24 reached KRW 98.2bn, up 10.4% year-over-year, with full-year sales at KRW 373.0bn, a 16.7% increase year-over-year.

• Operating profit for 4Q24 was KRW 46.6bn, up 26.7% year-over-year; full-year operating profit rose 41.2% to KRW 166.3bn.

• Net income for 4Q24 surged 130.0% year-over-year to KRW 40.7bn; full-year net income increased 45.8% to KRW 142.4bn.

Financial highlights

• Gross profit margin for 4Q24 was 77.2%, up 1.8 percentage points year-over-year.

• SG&A expenses decreased 3.4% year-over-year in 4Q24, contributing to improved profitability.

• Pre-tax income for 4Q24 was KRW 35.3bn, up 44.4% year-over-year.

Outlook and guidance

• Full-year 2024 net sales and operating profit showed strong double-digit growth, indicating positive momentum into the next fiscal year.