Samba Achieves 'All-Time High' 1Q Sales of 511.3 Billion Won... Aiming for Dream 'Annual Sales of 3 Trillion Won'

Incheon Songdo Samsung Biologics Plant 3 (Photo by Samsung Biologics)

[Asia Economy Reporter Lee Chun-hee] Samsung Biologics has raised expectations for strong performance by posting a record high quarterly sales exceeding 500 billion KRW in the first quarter of this year.

Samsung Biologics announced on the 26th that its consolidated operating (preliminary) results for the first quarter showed sales of 511.34 billion KRW, operating profit of 176.417 billion KRW, and net profit of 146.943 billion KRW. These figures represent increases of 96.05%, 137.45%, and 140.99%, respectively, compared to the same period last year.

This is the first time Samsung Biologics' quarterly sales have surpassed 500 billion KRW. The company stated, "Sales rose 96% year-on-year due to stable operation of Plants 1 to 3 and expanded product sales volume, as well as the effect of exchange rate increases," adding, "Operating profit also increased by 137% due to operating leverage effects from higher utilization rates of Plant 3 and exchange rate gains." The operating profit margin approached 35% accordingly.

In particular, from the second quarter, Samsung Bioepis, which recently became a 100% subsidiary of Samsung Biologics through the full acquisition of Biogen's shares, will be included in the consolidated financial statements, further improving Samsung Biologics' performance outlook. Samsung Biologics estimates that with Bioepis' consolidation starting in the second quarter, annual results will reach approximately 3 trillion KRW in sales and about 1 trillion KRW in operating profit. Annual sales of 3 trillion KRW is a dream figure never before achieved in the domestic pharmaceutical and bio industry.

A Samsung Biologics official said, "This year, we plan to fully embark on a leap toward becoming a 'global bio company,'" adding, "We will further strengthen our competitiveness as the number one global contract manufacturing organization (CMO) and secure new momentum for a fresh leap forward." Currently, Samsung Biologics is constructing Plant 4 (256,000 liters), the world's largest biopharmaceutical factory, in addition to acquiring shares of Samsung Bioepis. They are also proceeding with additional land purchases to establish the second bio campus, which will be larger at 350,000 square meters than the existing first bio campus (270,000 square meters), in the nearby Songdo 11 district of Incheon.

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