APR posts record quarterly profit on North America, Europe surge

APR announced Wednesday that it achieved record quarterly earnings, driven by strong performance in North America and Europe.

In a preliminary earnings disclosure, the company said consolidated sales for the second quarter reached 767.5 billion won ($537 million), up 134.2 percent from a year earlier. Operating profit rose 134.5 percent to 190.6 billion won, with an operating margin of 24.8 percent. Both figures are the highest ever recorded for a single quarter.

Cumulative sales for the first half of this year also hit a record 1.36 trillion won — nearly matching the company's full-year sales of 1.53 trillion won last year. Global growth in the cosmetics and beauty segment was the primary driver of the strong first-half results.

The cosmetics and beauty division posted second-quarter sales of 648.3 billion won, up 185.5 percent year on year and also a quarterly record. The company credited its global market push, expansion of both online and offline channels, and a broader product lineup.

Overseas sales surpassed 700 billion won, up 178 percent from the same period last year, fueled by an expanded distribution network in North America and a more aggressive push into Europe. International revenue accounted for 92 percent of total sales. The combined share of North America and Europe in total sales climbed from 40 percent a year ago to 68 percent this quarter. Starting this quarter, APR reports Europe as a separate region given the scale of its operations.

North America posted sales of 376.3 billion won, a 264.6 percent increase year on year. The company continued to grow its online channels while expanding its presence at major retailers including Target and Walmart. It is also set to enter Costco in the second half of the year.

In Europe, APR expanded its online presence through Amazon and TikTok Shop across five key markets — the United Kingdom, France, Germany, Italy and Spain. European sales surged 380.3 percent year on year to 145.1 billion won. Sales in Asia rose 14.5 percent to 121.1 billion won, while other regions climbed 325 percent to 61.7 billion won.

"The growth foundation we built in North America is rapidly spreading to new markets such as Europe, putting our global business on a stable growth trajectory," an APR official said. "We will continue to strengthen our product and brand competitiveness while expanding our global distribution network to sustain growth in overseas markets."