Public Relations

Press Release

Hugel Achieves Record-High Performance for 2Q…Revenue of KRW67.4bn, Operating Profit of KRW22.3bn

Hugel Achieves Record-High Performance for 2Q…

Revenue of KRW67.4bn, Operating Profit of KRW22.3bn

- Botulinum toxin’s export soars… Marketing approval in Australia and additional EU countries expected in 2H22

- Resumed shipments to China… Expect synergy with HA filler with first shipment in 3Q

- Cosmetic brands ‘Wellage’ and ‘[PR]4’ shows rapid growth


Hugel, a global total medical aesthetics company (145020.KQ) announced its 2Q22 consolidated financial results on August 10th, recording a revenue of KRW67.4bn, operating profit of KRW22.3bn and net profit of KRW15.4bn. 


Hugel delivered record-high 2Q revenue thanks to outstanding performance in overseas markets. 


Revenue of Botulinum toxin products increased 7% YoY, achieving stable growth. Hugel’s toxin is solidifying its leading position in the domestic market, and export revenue significantly grew 40% YoY driven by strong sales in Southeast Asia and Latin America. Shipment to Europe is also expanding with official launches in the U.K and Germany, starting with the first shipment to France and Austria in March


HA filler is also generating consistent growth in European markets, including the U.K., Sweden, Poland and Norway and strengthened its market leadership in the domestic market since 2019.


Cosmetic sales rose 60% YoY. Wellage’s “Real 2.0 Lifting Capsule Ampoule” achieved KRW10bn in sales from January to July of this year on home shopping channel, where the competitive environment makes it difficult to secure consistent sales of a single product.


Hugel plans to focus on accelerating its expansion into the global markets in 2H22. Hugel will launch its botulinum toxin, Letybo in several European countries such as Italy, Poland, Portugal and Romania, where the company obtained marketing approvals in 1H22, and target to obtain marketing approval for 12 Tier 2 countries, including Hungary, Belgium, Denmark, and Norway.


Hugel will also resume marketing activities in China, which were affected due to COVID-19 related lockdown in major cities during the first half of this year. In addition, Hugel plans to enhance the awareness of “Letybo” brand by carrying out ‘Letybo authenticity verification program’ in cooperation with the Chinese Association of Plastic Surgery until October to emphasize the importance of using authorized products practiced by certified injectors in line with the Chinese government policies and to promote the healthy development of the medical aesthetics market. Various activities are scheduled starting from August, including the ‘2nd Letybo Cup Super Operator Challenge’ and ‘Procedure training with Letybo’. Additionally, the first shipment of HA filler to China scheduled in 3Q22 is expected to create synergy with its botulinum toxin, Letybo.


Hugel also plans to launch Letybo in Canada, where the company obtained approval this past June, through its affiliate Hugel Aesthetics Canada. Hugel also expects to obtain marketing approval for Letybo in Australia, another market where Hugel has a local affiliate.


Hugel’s CEO, Jihoon Sohn, said, “We are committed to bring our proven, high quality products to global markets, expanding our presence of botulinum toxin in 59 countries and the HA filler in 53 countries by next year, ranging from China, Europe, and Canada to the US and Australia.” He added, “we will continue to expand our reach to global consumer and practitioners and invest in our product pipelines to inspire the customers and industry as a true global leader in medical aesthetics.”

Prev Hugel resubmits BLA for its botulinum toxin, Botulax to the U.S. FDA
Next Recent publication confirms the efficacy and safety of LetibotulinumtoxinA in the treatment of glabellar lines