Samba Achieves Early '2 Trillion Sales' Target... 3Q Sales 873 Billion KRW, Operating Profit 324.7 Billion KRW

Achieving First-Ever 2 Trillion KRW in Sales
Sharp Increase in Performance Reflecting Epis Consolidated Results

The third plant of Samsung Biologics in Songdo, Incheon, and the new Samsung Bioepis headquarters (from left) (Photo by Samsung Biologics, Samsung Bioepis)

[Asia Economy Reporter Lee Chun-hee] Samsung Biologics has achieved the 'annual sales of 2 trillion won' ahead of schedule in just three quarters. With the wings of Samsung Bioepis, consecutive quarterly record-breaking performances have continued, raising expectations in the pharmaceutical and bio industries that the 'annual sales of 3 trillion won,' considered a dream figure, can be achieved.

Samsung Biologics announced on the 26th that its consolidated operating (provisional) results for the third quarter recorded sales of 873.041 billion won (approximately 647 million USD) and operating profit of 324.741 billion won (approximately 240 million USD). Compared to the same period last year, these figures rose by 93.7% and 94.0%, respectively. The operating profit margin was 37%. However, net profit was 129.164 billion won, down 2.0% from the same period last year.

A Samsung Biologics official explained, "Sales and operating profit increased compared to the same period last year due to increased product sales volume in the third quarter and the effect of exchange rate appreciation."

For the cumulative total this year, sales reached 2.0357 trillion won, an 81.2% growth compared to last year's 1.1237 trillion won, successfully joining the '2 trillion won sales club' for the first time in history. Operating profit also increased by 64.2% to 670.8 billion won, and net profit grew by 36.2% to 428.1 billion won.

The strong performance of Samsung Biologics is largely due to the full acquisition of Samsung Bioepis shares, which had been jointly held with Biogen. Accordingly, since April, Samsung Bioepis officially became a 100% subsidiary of Samsung Biologics. In the financial statements, Samsung Bioepis's results have been consolidated into Samsung Biologics' accounting from May. Quarterly-wise, this third quarter was the first quarter in which Samsung Bioepis's results were fully reflected.

Therefore, Samsung Biologics also cautioned, "As a result, there is a difference in accounting standards between last year's results and this year's results," adding, "direct comparison is difficult." However, on a standalone basis, Samsung Biologics has already surpassed last year's annual performance with cumulative sales of 1.6896 trillion won and operating profit of 659.5 billion won this year.

Subsidiary Samsung Bioepis recorded sales of 269.8 billion won and operating profit of 77.9 billion won in the third quarter. A company official explained, "Sales and operating profit decreased compared to the same period last year due to a temporary base effect from receiving product approval milestones in the US and Europe in the third quarter of last year."

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