APR (278470) Q2 2026 earnings summary

Executive summary

• Achieved record consolidated revenue of KRW 768 billion in Q2 2026, up 134% year-over-year, with operating profit rising 135% to KRW 191 billion and an operating margin of 24.8%.

• Overseas revenue surged 178% year-over-year to KRW 704 billion, now representing 92% of total revenue, driven by strong growth in North America and Europe.

• Cosmetics division led growth, supported by regional, channel, and category expansion, with major brands including Mediqube, Aprilskin, and Forment.

• Listed on KOSPI in February 2024; expanded global presence with new subsidiaries in the Netherlands and India in 2026.

• Home beauty device business is vertically integrated from R&D to after-sales.

Financial highlights

• Q2 2026 revenue reached KRW 768 billion, surpassing KRW 700 billion for the first time, with operating profit at KRW 191 billion and net profit at KRW 142 billion (+113% YoY).

• 2026 H1 consolidated revenue was KRW 1,360.9 billion, with operating income of KRW 342.8 billion and net income attributable to owners at KRW 258.8 billion.

• Cosmetic and beauty segment revenue increased 186% year-over-year to KRW 648 billion in Q2; 2026 H1 revenue for this segment was KRW 1,100.8 billion.

• Home beauty device segment revenue rose 24% year-over-year to KRW 112 billion in Q2; 2026 H1 revenue was KRW 244.6 billion.

• Overseas revenue share rose to 92% of total, up from 77% YoY; North America and Europe now represent 68% of total revenue.

Outlook and guidance

• Full-year 2026 revenue guidance raised to KRW 3 trillion, with operating margin expected at 24%-26%.

• Q3 expected to be similar to Q2, with organic growth but no major promotional events; Q4 to benefit from Amazon Prime Day and Black Friday.

• Plans to expand production capacity in response to rising device demand and new product launches.

• Maintains a shareholder return policy targeting at least 25% of adjusted net income via dividends or share buybacks from 2024–2026.

• Continued focus on expanding in North America, Europe, and emerging markets like Latin America, Middle East, and India.