Hugel said Thursday it posted its strongest first-quarter earnings to date in 2026, driven by rapid overseas growth of its botulinum toxin business and steady Korean sales despite intensifying competition in Korea’s medical aesthetics market.
Hugel's Geodu Plant in Chuncheon, Gangwon Province (Courtesy of Hugel)
The company reported 116.6 billion won ($84 million) in consolidated revenue for the first quarter, up 29.9 percent from a year earlier. Operating profit rose 22.3 percent year-on-year to 47.6 billion won, while net profit increased 31.5 percent to 40.6 billion won.
Hugel said the performance was supported by stable sales in Korea and strong global expansion of its key products. Combined overseas sales of botulinum toxin and fillers reached 70.8 billion won, up 46 percent from a year earlier.
The company said sales in its four major markets, the U.S., China, Europe and Brazil, increased by about 21 billion won during the quarter, helping drive overall revenue growth.
Korean sales of botulinum toxin and fillers totaled 26.7 billion won. Hugel said it maintained solid growth in Korea despite intensifying competition in the local aesthetics market by expanding academic seminars for physicians and strengthening medical marketing activities.
The company also said it has laid the groundwork for further Korean growth in the second half of the year by securing distribution rights for extracellular matrix, or ECM, products.
By product category, botulinum toxin sales rose 60.6 percent from a year earlier to 65.4 billion won. Hugel said overseas toxin sales more than doubled, helped by increased shipments to the U.S. and Brazil. Sales in North and South America surged more than 420 percent, while the company also recorded balanced growth across Asia-Pacific and Europe.
Sales of fillers and skin boosters reached 32.1 billion won. The category extended its growth streak for a third consecutive quarter, supported by active sales and marketing activities. In Europe and other regions, sales grew by about 10 percent.
Cosmetics and other businesses also showed strong growth, with revenue rising 30.6 percent from a year earlier to 19.2 billion won. The segment accounted for about 16 percent of total revenue, emerging as a core business area that could support Hugel’s future growth, the company said.
“The company will strengthen its position in the global market by moving more decisively from Korea’s leading player to a global leader this year and maintain clear growth momentum,” Hugel Global CEO Carrie Strom said.
Hugel CEO Jang Doo-hyun also said, “The quarterly results reflected the company’s solid business foundation and execution capabilities.”
The company will more aggressively strengthen marketing at home and abroad and diversify our portfolio to deliver notable results, Jang added.
Lee Han-soo
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