SK Bioscience, 2Q Sales 138.3 Billion KRW... Operating Profit Down 7.5%
SK Bioscience's 'L House Vaccine Center' in Andong-si, Gyeongbuk (Photo by SK Bioscience)
View original image[Asia Economy Reporter Lee Chun-hee] SK Bioscience's sales and operating profit both declined year-on-year as its contract manufacturing organization (CMO) vaccine production sales decreased.
SK Bioscience announced on the 28th that its operating performance for the second quarter of this year was KRW 138.281 billion in sales and KRW 61.19 billion in operating profit. Compared to the same period last year, these figures decreased slightly by 4.4% and 7.5%, respectively. Net profit also fell by 12.7% to KRW 46.126 billion.
For the cumulative first half of this year, sales amounted to KRW 225.372 billion, down 12.4% from KRW 257.314 billion in the previous year. Operating profit decreased by 29.1% to KRW 84.942 billion, and net profit dropped 22.0% to KRW 73.932 billion.
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SK Bioscience explained that the decline in operating profit was influenced by the termination of the CMO contract for AstraZeneca (AZ) COVID-19 vaccine at the end of last year. However, they added that sales related to the Novavax COVID-19 vaccine are expanding mainly through CMO.
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