APR Corp. (APR, CEO: Byunghoon Kim), a global beauty tech company, broke its record-high performance in Q3 2023.
APR disclosed on November 14 that it had consolidated sales of KRW 122 bn (approx. USD 94.8 mn) and an operating profit of KRW 21.7 bn (approx. USD 16.87 mn) in Q3 2023. APR’s revenue climbed by 28.0% year on year, while its operating profit increased by 72.7%.
On a cumulative basis, Q3 achieved record-breaking sales of KRW 371.9 bn and an operating profit of KRW 69.7 bn. Year-on-year, cumulative sales soared by 37.9%, while operating profit surged by an impressive 277%. Remarkably, Q3’s cumulative sales reached 94% of last year’s total sales (KRW 397.7 bn), and operating profit surpassed the total amount for the entire 2022 (KRW 39.2 bn).
APR’s beauty business, which grew by an impressive 37.4% year-on-year, played a pivotal role in driving its outstanding results. The combined growth of medicube cosmetics and medicube AGE-R beauty device has been particularly impactful. AGE-R, which sold around 600,000 units in total in 2022, witnessed a remarkable surge in demand, reaching 750,000 units in Q3 2023, marking a 46.8% year-on-year expansion. This success can be partly attributed to Booster Healer, an entry-level beautification device that has enjoyed consistent sales both domestically and internationally.
medicube cosmetics also achieved outstanding performance thanks to its products, including the best-selling Zero Pore Pad as well as the deep line and collagen line that create synergy effects with beauty gadgets. Other established beauty brands such as APRILSKIN, FORMENT, and GLAM.D Bio also showed solid performance, with an overall growth rate of 28.0% YoY in the cosmetics sector.
Overseas achievements are also noteworthy. Beauty gadgets drove the overall growth in international sales, which totaled KRW 56.1 bn in Q3, a 52.5% increase year on year. APR, which recorded overseas sales of KRW 82.6 bn in H1 2023, achieved a figure equivalent to 96.5% of the total overseas sales of KRW 143.7 bn in 2022 in just three quarters.
Byunghoon Kim, CEO of APR, said, “Starting in the third quarter of this year, 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 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.”
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