Dr. Wu Skincare has benefited from strong physical channel sales momentum and new product launches. On the 15th, it announced a consolidated revenue of 350 million NTD for the first quarter of 2024, an increase of 27% year-on-year. Net profit after tax increased by 59%, with EPS reaching $3.6, setting a new high for nearly 13 quarters. The board of directors has decided to distribute a cash dividend of 2.0 yuan per share for the first quarter.
Dr. Wu plans to launch multiple new series of products this year. In the first half of the year, it has already introduced two new series, "Ultra-Micro C" and "Instant Relief Skin Soothing." In the second quarter, it will actively plan various activities for new products to further increase market visibility and expects new products to contribute to performance growth, driving overall revenue momentum. With the increase in the number of tourists, the performance contribution of the new medical beauty skincare brand "re'dermx" entering department store counters can be anticipated, and market performance in Taiwan is expected to rise.
In terms of overseas markets, sales of products in China have increased, with the addition of the "A-Retinol" series. The company continues to expand its channels in Japan and Southeast Asia, which will continue to drive performance upward.
Consolidated revenue for the first quarter was 350 million NTD, an increase of 27% year-on-year. Benefiting from economies of scale and effective cost control, operating profit was 123 million NTD, a year-on-year increase of 41%. The operating margin increased by 5 percentage points from 44.9% to 49.9%. Net profit after tax was 162 million NTD, a year-on-year increase of 59%, with EPS reaching $3.60, setting not only a new high for the same period but also the best quarter since the first quarter of 2021. The board of directors also decided to distribute a cash dividend of $2 per share for the first quarter.
Resource (Mandarin):
