Last year’s revenue up 12.2% YoY, reaching historical high revenue… OP up 13.1% YoY
Botulax maintains no. 1 domestic M/S for 4 consecutive years… The Chaeum’s last year revenue jumped 51.5% YoY, reaching domestic no. 1
[Infostock Daily= reporter Song Jeong-hoon] Hugel achieved record high revenue last year.
Hugel, a global total medical aesthetics company on 14th February reported 2019 consolidated revenue of KRW204.6bn, operating profit of KRW68.1bn and net profit of KRW51.7bn.
The company’s last year revenue increased 12.2% YoY, surpassing annual revenue of KRW200bn for the 1st time since its foundation. Operating profit was up 13.1% YoY to KRW68.1bn with operating profit margin recording 33.3%.
Hugel pointed out the gradual expansion of its products sales in both domestic and overseas markets as the background for achieving its historical high annual revenue. In particular, the growth of HA filler ‘The Chaeum’ meaningfully contributed to Hugel’s revenue growth. Last year, overall revenue of ‘The Chaeum’ filler increased 28.1% YoY. Especially, Hugel ranked no. 1 M/S in the domestic HA filler market as its domestic HA filler revenue grew 51.5% YoY. This was mainly supported by its product portfolio expansion through the launch of a new line-up, ‘The Chaeum Style’. In addition, overseas market expansion also accelerated. Last year’s HA filler overseas revenue grew 20.3% YoY as exports to EU including UK, more than doubled (up 152.2% YoY).
This year marks the 10 year anniversary for Hugel’s botulinum toxin product, ‘Botulax’ which is also showing solid growth. ‘Botulax’ domestic revenue last year was up 15.7% YoY to KRW61.3bn. Hugel maintains its no. 1 M/S in the domestic toxin market for 4 consecutive years.
Revenue growth in overseas markets also stood out in 4Q19. Botulinum toxin exports was up 8.5% YoY, particularly exports to LATAM region increased 9.4% YoY. HA filler exports revenue also grew 37.9% YoY. This was mainly driven by exports growth in Asia, up 20.1% YoY and in EU/CIS, up 94.9% YoY.
Hugel plans to continue its global market penetration this year. The company expects to obtain final approval for its botulinum toxin in China mid-20. Hugel also plans to submit the Biologics License Application (BLA) for Europe market expansion in 1H20 and obtain final approval in 2021. For the globally biggest US market, Hugel plans to submit BLA later this year and expects to obtain approval by end-2021.
In addition, Hugel obtained the sanitary certificate in China for a total of 8 cosmetic products, including Wellage's flagship product, ‘Real Hyaluronic Bio-capsules & Blue Solution’. With it, Hugel will focus on successful settlement and penetration into the local China market.
“For Hugel, last year was a year of becoming the top-leading medical aesthetics company in Korea as the company’s Botulax and The Chaeum products gained dominance in the domestic market. It was also a year of gaining confidence in overseas markets as H.E.L.F, an academic forum held for local doctors and officials, was well received in Thailand, LATAM and Russia.”, said the company official. “This year, we will accelerate the expansion into global markets through obtaining approval in China and submitting application for approval in Europe and the US.”
Reporter Song Jeong-hoon email@example.com