APR Corp. broke the records for cumulative sales in 3 quarters compared to last year with outstanding Q3 performance

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Nov 28, 2023, 08:00 ET

In Q3 2023, APR Corp. achieved KRW 122 bn for sales, and 21.9 bn for operating profit
Cumulative performance as KRW 371.9 bn for sales, 69.8 bn for operating profit
Q1~3, Sales increased by 37.9% and operating profit surged by 277.6% (YoY)

SEOUL, South Korea, Nov. 28, 2023 /PRNewswire/ -- APR Corp. (APR, CEO: Byunghoon Kim), a global beauty tech company, broke its record-high performance.

APR disclosed on Nov. 14 via the Financial Supervisory Service of Korea (FSS), that it had sales of KRW 122 billion (approx. USD 94.8 million) and an operating profit of KRW 21.7 billion (approx. USD 16.87 million) in Q3 2023.

On a cumulative basis, Q3 broke the records for sales of KRW 371.9 billion and an operating profit of KRW 69.7 billion. YoY, cumulative sales were up by 37.9%, while operating profit surged by an impressive 277.6%. Q3's cumulative sales reached 94% of last year's total sales, of which KRW 397.7 billion, and operating profit exceeded last year's total (KRW 39.2 billion) already.

APR's beauty business, which has grown by 37.4% to last year, played a crucial role in outstanding results. medicube cosmetics and medicube AGE-R beauty device have combined great outcomes. AGE-R, which sold around 600,000 units in total in 2022, witnessed a remarkable surge in demand while hitting more than 750,000 units in domestic and international markets. This success can be partly attributed to Booster-H, an entry-level beauty device that has enjoyed consistent sales both domestically and internationally.

medicube cosmetics, include the best-selling Zero Pore Pad and the deep line and collagen line that create synergy with beauty devices. Other established beauty brands such as APRILSKIN, FORMENT, and GLAM.D Bio also performed solid.

Overseas achievements are noteworthy. Beauty devices drove the overall growth in international sales, totaling KRW 56.1 billion in Q3, a 52.5% increase yearly. APR recorded overseas sales of KRW 82.6 billion in the first half of 2023, and it figures equivalent to 96.5% of the total overseas sales of KRW 143.7 billion in 2022 when the first half gets combined with Q3's overseas sales.

Byunghoon Kim, CEO of APR, said, "Our records are expecting to go through an upheaval in the beauty industry. We will focus ahead of time on strengthening corporate competitiveness through bold measures based on diversification of the global market."

Meanwhile, APR aims to be listed on the stock market (Korea Composite Stock Price Index, KOSPI) in H1 2024.

The CEO added, "As the listing schedule has materialized after submitting the preliminary review request last September, APR will make its utmost efforts to operate the company stably and systematically while preparing for the listing schedule."

SOURCE APR Corp.