Samsung BioLogics Recorded Sales of 701.6 Billion KRW and Operating Profit of 91.7 Billion KRW in 2019

Published : Wednesday, January 22, 2020, 8:23 pm
ACROFAN=Jae-Yong Ryu | | SNS
- As the outcome of the enterprise-wide efforts to strengthen competitiveness, all of factories 1, 2, 3 utilizations have been increased.
- Samsung BioLogics entered CDO R&D Lab in the US for strengthening competitiveness.
- In 2020, Samsung BioLogics aims to win more than 12 CMOs and 18 CDOs.
- 100,000,000 KRW = 85,873.77 USD (January 22, 2020)

On 22th, Samsung BioLogics (CEO: Kim Tae-han) announced that it recorded annual sales of 701.6 billion KRW, operating profit of 91.7 billion KRW, and net profit of 202.9 billion KRW.

Due to higher utilization rates of all plants, including factory 3, the sales increased by 165.8 billion KRW (+30.9%) year-on-year. On top of that, with the increase in sales, the operating profit increased 36 billion KRW (+64.6%) as well.

The net profit declined by 21.2 billion KRW (-9.5%) year-on-year due to the base effect from the cash inflow of 389.2 billion KRW after the completion of P&A (purchase of assets and assumption of liabilities) with Biogen in November 2018.

Net profit for 2019 substantially increased compared to the previous year except for 389.2 billion KRW, which is gains on disposition of investment stock reflected as one-off, from the net profit for 2018.

In 4Q, the sales was 313.3 billion KRW, up 128.5 billion KRW (+69.5%) QoQ, due to significantly improved utilization rate of factory 2 and sales recognition of productions. The operating profit recorded 106.9 billion KRW, up 83.3 billion KRW (+353.0%) QoQ, due to the increase in sales and the change of production composition.

Net profit for 4Q also increased by 166.5 billion KRW (+376.5%) to 210.6 billion KRW due to the increased operating profit and improved profits and losses of affiliated companies.

Meanwhile, Samsung BioLogics won 35 CMOs, 42 CDOs, and 10 CROs at the J.P. Morgan Healthcare Conference in San Francisco in January 2020. The company said it is aiming to win more than 12 CMOs and 18 CDOs by 2020.

In addition, Samsung BioLogics announced that it will establish a CDO R&D Lab in San Francisco this year to strengthen its capability and raise the amount of orders for factory 3 to 60% of CAPA by year-end.

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