GC Green Cross reports Q1 operating profit of 5 billion KRW, down 18% YoY

"Quarterly Performance Variations Likely This Year"

[Asia Economy Reporter Kim Ji-hee] GC Green Cross announced on the 28th that its consolidated financial statements showed a preliminary estimate of 282.2 billion KRW in sales for the first quarter, down 8.3% compared to the same period last year. Operating profit for the same period recorded 5 billion KRW, a decrease of 18%.

On a separate basis, sales amounted to 211.1 billion KRW, showing a decline compared to the same period last year. GC Green Cross explained, "This was due to a temporary sales gap in the vaccine sector," adding, "The contract for externally sourced vaccines responsible for domestic sales ended at the end of last year, and the supply timing of influenza vaccines to Southern Hemisphere countries was scheduled for the second quarter, unlike last year."

Overseas sales of the flagship rare disease treatment Hunterase in the first quarter of this year increased more than fourfold as results from Japan and China began to be reflected.

In terms of profitability, the consolidated gross profit margin improved by 4 percentage points. Selling and administrative expenses increased slightly, but the ratio rose due to the decrease in sales volume.

A GC Green Cross official stated, "Due to the concentration of factors determining performance, there is a high possibility of significant quarterly performance fluctuations this year."

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