GC Green Cross Posts 1.54 Trillion Won in Sales Last Year, Operating Profit Up 47%

GC Green Cross Ochang Plant / Photo by Lee Chunhee

[Asia Economy, reporter Lee Chunhee] GC Green Cross reported a nearly 47% year-on-year increase in operating profit, driven by higher sales of its in-house vaccines, including its influenza vaccine.

On February 14, GC Green Cross announced that, based on its consolidated financial statements, its provisional annual operating results for the previous year showed sales of 1.5378 trillion won and operating profit of 73.66162 billion won. While sales grew by only 2.2% compared to the previous year, operating profit surged by 46.6%. Net profit for the period also saw significant growth, reaching 136.94988 billion won, up 53.4% year-on-year.

Despite an increase in total selling and administrative expenses, with recurring development costs rising 6% year-on-year to 146 billion won, the gross profit margin rose to 34%, up 5 percentage points from the previous year. A GC Green Cross representative commented, "Our proprietary products in the vaccine and prescription drug sectors, which have high profitability, performed well, resulting in both expanded sales and improved profitability."

By individual business segment, GC Green Cross recorded 374.2 billion won in blood products sales, 263.2 billion won in vaccines, 316.2 billion won in prescription drugs, and 216.7 billion won in consumer healthcare. In particular, sales of the influenza vaccine reached 229.7 billion won, representing a remarkable 38% year-on-year increase and setting a new record high.

Most of the listed subsidiaries included in the consolidated results also posted positive performances. GC Cell, which was reborn last year through a merger, achieved its best-ever management results with sales of 168.3 billion won and operating profit of 36.3 billion won. This strong growth was attributed to the expansion of its specimen testing business and the full-scale realization of revenue from the technology transfer agreement with Artiva.

GC Green Cross Wellbeing also posted strong growth, with sales rising by over 20% to 91 billion won, thanks to robust performance in its injectable drug and health functional food businesses. However, GC Green Cross MS experienced negative growth last year due to sluggish performance in its diagnostic kit business.

A GC Green Cross representative stated, "In addition to our ongoing investments in research and development (R&D) and efforts to improve profitability, we expect to see clear business growth this year through the pioneering of new overseas markets."

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