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Picogram posts 1.5 billion won in operating profit last year..."Expected to improve performance with new business expansion"

  • DATE
    2024-03-26 14:13:50
  • HIT
    737

Impact on profit and loss, including advertising expenses to expand brand business... Plans to launch new business in earnest. 


Picogram, as a company specializing in home and environmental appliances, announced its earnings for the past year on Tuesday.


As of 2023, Picogram had revenue of KRW 27.7 billion, operating income of KRW 15.3 billion, and net income of KRW 44.5 billion. While revenue and operating income decreased year-on-year, net income increased year-on-year due to higher gains on the valuation of convertible bond derivatives. 


The company attributed the decline to a drop in international sales due to the global economic downturn, Operating income was impacted by higher costs to expand new businesses, such as the cosmeceutical brand CELLINstem. Also, the company expects profits to grow further this year as it liquidates its Picogram Malaysia subsidiary in December 2023 to reduce its fixed cost burden, which has contributed to lower profits in the past.



피코그램 로고. [사진=피코그램]

"In order to secure overseas sales, we not only announced the development of eco-friendly new products at the '2024 WQA Convention & Exposition Water Purification Expo in the United States,' but also received supply requests from overseas customers," said a representative of Picogram,

"Based on this, we plan to find new customers and stabilize the existing business, and we will start to promote new business in earnest so that new revenue can be generated."


"Last year, we invested in initial costs to enter new businesses, such as advertising expenses due to the expansion of the brand business, and this year, we invested in food processors, etc. We are planning to increase sales of various home appliances, and we expect to realize a significant increase in earnings growth."


Meanwhile, last year, Picogram established the BB&H (Bio, Beauty & Healthcare) division to enter new businesses such as bio, beauty and healthcare, In January, we launched CELLINstem a B2B cosmetics product. Currently, the development of cosmetics to enhance skin and immune cells using stem cell exosomes is being finalized, and additional sales are expected to be generated through the completion of development and product launch.



source : newspim