Hugel Achieves Record High Revenue for the First Quarter

SEOUL, South Korea, May 9, 2024

With the steady growth of its botulinum toxin and HA fillers products both at home and abroad, Hugel's revenue increased 15.4% YoY, achieving an all-time high performance for the first quarter. Operating profit and net income also surged by approximately 30% and 34%, respectively, compared to the same period of last year.

Hugel's botulinum toxin "Botulax (Export name: Letybo)" received positive reactions in Korea for its large-dose 300 Unit product, and continued its strong growth momentum with a 46% sales surge in the Asia-Pacific region, including Australia, Japan, Thailand, and Taiwan.

For its HA fillers ("THE CHAEUM (Export name: Revolax, Dermalax, and Persnica)" and "BYRYZN Skinbooster HA"), Hugel continued various domestic marketing and academic programs to commemorate the 10^th anniversary of the launch of THE CHAEUM. Overseas revenue grew evenly in all regions, including Asia-Pacific, North and South America, and Europe, and as a result, HA fillers grew by 12% YoY.

Driven by new product launches and various sales and marketing activities, revenue for the derma cosmetics brand "WELLAGE" grew by 50.8% YoY. The suture brand "Blue Rose (Export name: Licellvi)" also maintained steady growth.

Hugel plans to focus on expanding its domestic and overseas markets in the second half of the year as well. The company will conduct various activities, including academic seminars and training for "Botulax" targeting healthcare professionals both at home and abroad. Additionally, by providing procedure guides for each dosage and for combined treatments, it plans to continue strengthening its position in the global toxin market.