[Public Notice+] Access Bio Q1 Sales 10.3 Billion Won... "Impact of Portfolio Diversification"

[Asia Economy Reporter Eunmo Koo] Access Bio announced on the 18th through a public disclosure that its consolidated sales for the first quarter of this year amounted to 10.3 billion KRW, with operating loss and net loss of 900 million KRW and 1.3 billion KRW respectively. Although sales decreased by 2% compared to the same period last year, the operating loss and net loss narrowed.

On a separate basis, sales recorded 8.9 billion KRW, operating profit 700 million KRW, and net profit 400 million KRW. Operating profit increased by 482% year-on-year, and net profit increased by 842%, showing a significant improvement in profitability.

An Access Bio official stated, “The impact of COVID-19 in the global market somewhat affected the demand for malaria RDTs, but this was offset by increased sales of dengue diagnostic kits. Internally, stable profits were achieved through price increases and cost ratio improvements of malaria RDTs.”

He added, “The company is diversifying its sales through a diversified portfolio including malaria, dengue, influenza, and COVID-19 diagnostic products. Based on product competitiveness, we will expand global sales through our global sales network, and performance is expected to improve more prominently in the future.”

This content was produced with the assistance of AI translation services.