Sujentec Reports Operating Profit of 44.7 Billion KRW in Q1... Record Highest Quarterly Performance
[Asia Economy Reporter Hyungsoo Park] SuzenTech has recorded its highest quarterly performance ever.
SuzenTech announced on the 11th that it achieved sales of 67.9 billion KRW and an operating profit of 44.7 billion KRW in the first quarter of this year on a consolidated basis. This represents an increase of 515% and 714%, respectively, compared to the same period last year. Net profit reached 34.9 billion KRW, up 518%.
The company explained that the surge in sales of antigen rapid diagnostic kits was due to the Omicron pandemic in the first quarter of this year. In fact, SuzenTech signed a contract worth a total of 50.4 billion KRW with the Public Procurement Service until March next year. This is the first domestic public sector contract signed after approval from the Ministry of Food and Drug Safety, enabling supply from the public to the private sector.
Continuous sales from existing overseas markets such as Vietnam, Saudi Arabia, and the United Arab Emirates also contributed to the increase in sales. In the Vietnam region, a supply contract for antigen rapid diagnostic kits worth 7.7 billion KRW was signed in January this year.
As post-COVID progresses, SuzenTech plans to continue its growth by focusing on new growth engines such as ▲allergy diagnosis ▲tuberculosis diagnosis ▲female hormone self-diagnosis business. The company has formed a partnership with a major Chinese diagnostic company and has delivered about 500 allergy diagnostic devices to date. Recently, it obtained the European ‘CE CoC’ certification for three female hormone diagnostic products, making it possible to sell them throughout Europe without separate certification.
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Son Mijin, CEO of SuzenTech, said, "Based on bio, nano, and IT technologies, we will provide in vitro diagnostic devices from general hospitals to small and medium-sized hospitals and individuals, establishing ourselves as a leading total platform company in in vitro diagnostics.”
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