Hugel (145020) Q3 2026 earnings summary

Executive summary

• Q3 2026 sales were KRW 97.5bn, down 8% YoY; operating profit fell 62% to KRW 18.1bn and net income fell 88% to KRW 4.7bn.

• 9M revenue rose to KRW 352.1bn from KRW 306.0bn, while operating income declined to KRW 121.7bn from KRW 143.0bn and net income to KRW 90.1bn from KRW 107.1bn.

Financial highlights

• Q3 gross profit was KRW 73.0bn, down 11% YoY; SG&A increased 60% to KRW 54.9bn. Gross margin was 74.9% and operating margin 18.6%.

• 9M gross profit was KRW 268.8bn versus KRW 237.3bn; SG&A rose to KRW 147.1bn from KRW 94.3bn, contributing to lower operating income.

• 9M operating cash flow was KRW 120.5bn versus KRW 85.3bn; cash and cash equivalents were KRW 234.9bn at Sep. 30, 2026, versus KRW 209.7bn at year-end 2025.

Segment performance

• Q3 toxin revenue was KRW 47.2bn, down 21% YoY; filler and skinbooster revenue was KRW 30.9bn, up 2%. Cosmetics and others revenue rose 25% to KRW 19.4bn.

• Q3 Korea sales were KRW 27.4bn, up 54% YoY; international toxin and filler sales were KRW 50.8bn, down 30%. APAC sales were KRW 33.1bn, down 8%; Europe and others rose 18% to KRW 17.8bn.

• North and South American toxin and filler revenue was negative in Q3 due to a change in U.S. operating strategy.

• 9M toxin revenue was KRW 193.2bn versus KRW 162.8bn; filler and skinbooster revenue was KRW 96.7bn versus KRW 96.1bn, and cosmetics revenue was KRW 54.8bn versus KRW 40.9bn.