Samsung Biologics Q1 Operating Profit 74.3 Billion KRW... 19% Increase YoY

"Currently All Factories Operating at Full Capacity"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Ji-hee] Samsung Biologics announced on the 28th that its sales in the first quarter of this year reached 260.8 billion KRW, and operating profit was 74.3 billion KRW, representing increases of 26% and 19% respectively compared to the same period last year.

First quarter sales increased by approximately 53.6 billion KRW compared to the first quarter of last year due to increased sales volume following the full-scale operation of the 3rd plant. However, sales decreased by 114.5 billion KRW compared to the previous quarter due to changes in the product mix and a slowdown caused by scheduled maintenance of the 1st plant.

Operating profit increased by 11.7 billion KRW compared to the same period last year, driven by stable operations of the 1st and 2nd plants and a gradual increase in operating rates following early order achievements for the 3rd plant. Compared to the previous quarter, operating profit decreased by 18.3 billion KRW (-20%), influenced by decreased sales and increased labor costs due to workforce expansion.

As of the first quarter of this year, assets stand at 6.4791 trillion KRW, and equity at 4.6599 trillion KRW. The debt ratio is 39%, and the borrowings ratio is 15.5%, maintaining a stable financial condition.

Following last year's achievement of annual sales exceeding 1 trillion KRW, Samsung Biologics is actively responding to market demand this year as well. A Samsung Biologics official stated, "All currently operating plants are running at nearly maximum capacity," adding, "We are constructing the world's largest 4th plant (256,000 liters) with the goal of partial operation by the end of next year."

He continued, "In 2021, despite the challenging environment caused by the COVID-19 pandemic, Samsung Biologics plans to focus its capabilities on efficient operation of production facilities and early order acquisition for the 4th plant."

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