APR (278470) Q2 2025 earnings summary

Executive summary

• Achieved record consolidated sales of KRW 328 billion in Q2 2025, up 111% year-over-year, with operating profit reaching KRW 85 billion and net profit at KRW 66.3 billion, driven by global expansion and strong demand for flagship products.

• H1 2025 revenue reached KRW 593.8 billion, with operating profit of KRW 139.1 billion and net income of KRW 116.3 billion, reflecting robust year-over-year growth.

• Overseas sales accounted for 78% of Q2 sales, led by the U.S. and Japan, with online channels contributing 65.4% of revenue.

• Major investments in production capacity and R&D, including new device factories and expanded product lines, supported growth.

• Shareholder returns exceeded KRW 220 billion within a year through buybacks, retirements, and dividends.

Financial highlights

• Q2 2025 consolidated sales: KRW 328 billion (+111% YoY); operating profit: KRW 85 billion (+201.9% YoY); net profit: KRW 66.3 billion (+175.2% YoY); operating margin: 26%.

• H1 2025 revenue: KRW 593.8 billion (+95% YoY); operating profit: KRW 139.1 billion (+149.4% YoY); net profit: KRW 116.3 billion (+141.2% YoY); gross profit: KRW 450.6 billion.

• Basic EPS for H1 2025: KRW 3,127; cash and cash equivalents at H1 2025: KRW 73.7 billion.

• Total assets as of June 30, 2025: KRW 651.3 billion; equity: KRW 408.1 billion.

• Debt-to-equity ratio: 59.6% at H1 2025.

Outlook and guidance

• Full-year 2025 sales guidance maintained at KRW 1.31 trillion, with an OP margin of 17%-18%, but management expects to overachieve.

• Q3 and Q4 operating profit margin expected to be at least 20%.

• Plans to expand production capacity for home beauty devices and continue global market expansion, especially in the US, Japan, and emerging markets.

• Ongoing investment in R&D and new product launches to sustain growth.

• Commitment to shareholder returns through dividends and share buybacks.