[Featured Stock] Binex Projects High Growth This Year... Surges Over 8%

[Asia Economy Reporter Kwon Jae-hee] Pharmaceutical manufacturer Binex is showing strong gains in early trading as the securities industry names it a top pick, expecting high growth this year.

As of 10:28 AM on the 3rd, Binex is trading at 15,450 KRW, up 8.8% from the previous trading day.

Binex's consolidated sales and operating profit for Q4 last year were 39.8 billion KRW and 5.9 billion KRW, respectively. This represents increases of 14.1% and 43.6% compared to the same period last year. The operating profit exceeded Shinhan Financial Investment's forecast by 23.5%, marking an earnings surprise.

Senior researcher Lee Dong-geon of Shinhan Financial Investment said, "The sales from contract manufacturing of Celltrion biosimilars were reflected, and the bio business division's performance grew significantly due to increased production volume from existing partners. Although a sales decline compared to the previous quarter is inevitable in Q1 this year due to scheduled regular factory maintenance, sales growth is expected based on the expansion of Celltrion biosimilar production scale, the base effect of the pharmaceutical business division, and aggressive sales efforts."

Binex's consolidated sales this year are projected to increase by 18.4% to 159.1 billion KRW, and operating profit is expected to rise 71.5% to 22.5 billion KRW.

The researcher analyzed, "Currently, the order backlog for each factory in the bio business division is estimated to be nearly full operation at the Songdo and Osong factories."

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