POLA Reports Consolidated Net Sales of 85.836 Bn Yen for H1 with Chinese Market Being Moderate
- Chaileedo Press
- Jul 31, 2023
- 2 min read
The brand, POLA, still achieved revenue growth of approximately 20% in mainland China, highlighting the company's strong presence in the Chinese market.
Japanese cosmetics company, POLA Orbis Holdings, has reported strong financial results for the first half of the fiscal year 2023. The company's consolidated net sales for H1 FY2023 reached 85.836 billion yen ($603.7 million), representing a 9% YoY increase. Gross profit also saw a significant increase, with a 9.6% YoY rise to 70.659 billion yen ($497 million).
The company's revenue increased both in Japan and overseas, with a substantial increase in operating income. Consolidated net sales in Japan were up 7% YoY, while overseas net sales increased by an impressive 20% YoY. The increase in revenue was seen across all sales channels in Japan, supported by vigorous activity in aesthetic treatment and B.A. Meanwhile, overseas revenue increased by 33%, driving the Group's overseas business. However, the recovery in the cosmetics market in mainland China was moderate, against the Company’s expectations.
The company's consolidated net sales of the Beauty care segment reached 83.529 billion yen ($587.5 million), representing a 9% YoY increase, primarily due to an increase in revenue from POLA and ORBIS, and operating income rose, mainly due to an increase in gross profit.
In terms of brand, POLA's net sales reached 49.763 billion yen ($350 million), representing a 10.4% YoY increase. ORBIS net sales reached 20.902 billion yen ($147 million), representing a 9.7% YoY increase. Jurlique's net sales reached 3.838 billion yen ($27 million), representing a 5% YoY increase.
Accoding to the financial report, ORBIS saw growth in Japan, with sales of highly functional UV protector contributing significantly to its net sales increase of approximately 1.5 times YoY. Jurlique's revenue increased in the first half, and losses were ameliorated in the second quarter and revenue increased in mainland China partly thanks to face oil continued to perform well, and the growth in Douyin. Furthermore, POLA achieved revenue growth of approximately 20% in mainland China, highlighting the company's strong presence in the Chinese market.
Looking ahead, the company has set a full-year plan of 2023. Its net sales is expected to reach 180 billion yen ($1.27 billion), with the Beauty care segment net sales setting to reach 175.5 billion yen ($1.23 billion). With this strong financial performance and optimistic outlook, POLA Orbis Holdings looks set to continue its growth trajectory.
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