Wontech Reports 124 Billion Won in Cumulative Revenue Through Q3 ... Overseas Share at 75%

[Financial News] Wontech recorded cumulative revenue of 124 billion won through the third quarter of this year, driven by growth in overseas sales and expanded sales of aesthetic medical devices. Overseas revenue accounted for more than 75% of total revenue.
Wontech said on the 13th that its consolidated revenue for January through September this year totaled approximately 124 billion won, up 12.2% from the same period last year.
Overseas revenue rose 31.6% year on year. Its share of total revenue also increased from 67.4% in the same period last year to 75.4% this year. On a non-consolidated basis, revenue grew 44.2% in Thailand and 117.8% in the United States.
By product, cumulative sales of Oligio X, a radiofrequency (RF) aesthetic device, rose 140.2% year on year. Wontech launched Oligio XM in South Korea in September. Cumulative revenue from laser equipment increased 38.8% on a non-consolidated basis, while sales of Picocare Majesty and Bellasta rose 92.5% and 126.9%, respectively. Revenue from overseas consumables and consumables in Japan also increased 44.4% and 75.5%, respectively.
Revenue for the third quarter alone was approximately 36.2 billion won on a consolidated basis, with operating profit of approximately 5.5 billion won and an operating margin of about 15%. The company posted a net loss for the period of 2.85 billion won. The result reflected non-operating factors, including foreign-currency translation losses caused by exchange-rate fluctuations. Such losses are accounting losses that arise when foreign-currency assets and liabilities are valued at the exchange rate on the closing date, and are distinct from actual cash outflows.
Meanwhile, Wontech's board resolved that day to cancel 1,153,767 treasury shares, equivalent to about 1.29% of its total issued shares. The cancellation is scheduled for the 25th. The company had previously canceled 437,749 shares in April and 300,000 in June, bringing the total number of shares canceled this year, including the latest decision, to 1,891,516.

[email protected] Jung Sang-hee Reporter