KUALA LUMPUR, May 18 (Bernama) -- APR Corp (APR), a global beauty tech company, announced it posted a fresh record high operating profit and profit rate of 122.2 billion Korean won in sales, a 60 per cent increase year-on-year and 23.2 billion Korean won in operating profit, the highest ever in its history, in the first quarter (Q1) of 2023. (1,000 Korean won = RM3.39)
The most notable aspect of its quarterly performance is the record-high operating profit. Operating profit in Q1 2023 was 11.8 per cent higher than 20.7 billion Korean won in Q4 2022 when it reported quarterly operating profit in the 20 billion Korean won range for the first time.
In a statement, APR said its quarterly operating profit improved both in qualitative and quantitative terms, with operating margin in Q1 2023 came to as high as 19.0 per cent, higher than Q4 2022, which had been the highest on record.
Its Chief Executive Officer, Byunghoon Kim said: “We, as a beauty tech company, were able to produce the record quarterly performance yet again thanks to the solid growth of our cosmetics and beauty devices. We will achieve the business valuation of trillion won range and successfully lead the market listing process by maintaining our high growth.”
The beauty sector, the biggest contributor to the quarterly performance, recorded 99.2 billion Korean won in sales, growing 92.5 per cent from the same period in 2022. The concurrent growth of cosmetics and beauty devices is also noticeable.
A beauty device, “MEDICUBE AGE-R”, demonstrated great popularity as it sold over 250,000 units in Q1 alone. MEDICUBE cosmetics, such as “ZERO PORE PAD” and “COLLAGEN LINE”, led APR’s growth in Q1 by recording a 35 per cent increase in sales on-year. Moreover, other beauty brands, including “APRILSKIN” and “FORMENT”, succeeded in branding and contributed to the growing trend.
The overseas performance also played a noticeable role in the results with APR’s overseas sales in Q1 came to 38.1 billion Korean won, up 37.1 per cent on-year.
APR’s performance in Q1 2023 is expected to serve as a positive factor for the company’s business valuation in the trillion won range as it resulted from its accomplishment to maintain a high growth trend.
The company reported 700 billion Korean won in its valuation last year through a pre-initial public offering (IPO) before the annual performance disclosure, planning to accelerate its establishment as a global beauty tech company, as well as achieve sustainable growth and a successful IPO.
It is also committed to developing new technologies and products, securing production capacity, and carving out the overseas market through the ADC (APR Device Center), a research and development (R&D) centre and a beauty device research subsidiary opened in January this year.
-- BERNAMA
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