Samsung Bio, Operating Profit of 292.8 Billion KRW Last Year... 219% Increase YoY

Annual Sales Surpass 1 Trillion Won for the First Time in History

Samsung Biologics Bioreactor Hall

[Asia Economy Reporter Kim Ji-hee] Samsung Biologics announced on the 26th that it recorded annual sales of 1.1648 trillion KRW and operating profit of 292.8 billion KRW for the year 2020. Compared to the same period last year, sales and operating profit increased by 66% and 219.3%, respectively.

In particular, Samsung Biologics surpassed annual sales of 1 trillion KRW for the first time in nine years since its founding in April 2011. Increased operating rates of all three plants contributed to the growth in both sales and operating profit compared to last year. The operating profit margin nearly doubled from 13% in 2019 to 25% in 2020 due to the operating leverage effect.

Last year, Samsung Biologics achieved orders worth 1.78 billion USD, 2.5 times higher than the previous year, including 627 million USD from GSK. A Samsung Biologics official explained, "Despite the challenging environment caused by the COVID-19 pandemic, we strengthened our company-wide order capabilities through rapid responses such as supporting on-site inspections and audits by global regulatory agencies via non-face-to-face real-time virtual tours."

Meanwhile, sales in the fourth quarter of last year reached 375.3 billion KRW, achieving the highest quarterly performance ever. Sales increased by 36.7% (100.7 billion KRW) compared to the third quarter due to improved plant operating rates and the inclusion of some COVID-19 therapeutics in sales. Operating profit during the same period recorded 92.6 billion KRW, up 63.8% from the third quarter.

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