Classys (214150 KS): Strong 1Q23 Result Lifted by Overseas Performance and Consumables Sales

707 Views26 May 2023 14:29

Boomeranged on Sat, 1 Jul 2023 14:08

Since publishing this insight, Classys shares gained 26%. Investors can book partial profit and hold core position, as more upside is seen, due to the continued strong global demand for medical aesthetics products.

SUMMARY

Classys (214150 KS) reported solid performance in 1Q23, with double-digit revenue growth, driven by expansion of domestic consumables sales for Shrink Universe and growth in overseas device and consumables sales.
Operating profit increased 19% YoY to KRW 19.9 billion, leading to 380 basis point margin expansion to 51%. Net profit increased 46% YoY to KRW 18.8 billion.
Classys continues to strengthen its competitiveness through product line and geography expansion. The company has reiterated 2023 revenue guidance of KRW170 billion, representing year-over-year increase of 20%.

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