Green Cross Corp. Reports KRW 11.7 Billion Operating Profit in Q1, Up 46.3% Year-on-Year

Sales Reach KRW 435.5 Billion
Up 13.5% Year-on-Year

GCGreen Cross Corp. announced on May 8 that its consolidated sales for the first quarter of this year reached KRW 435.5 billion, based on preliminary figures. This marks a 13.5% increase compared to the same period last year.

During the same period, operating profit was KRW 11.7 billion, representing a 46.3% year-on-year growth, while net profit stood at KRW 20.1 billion.

This improvement in performance was primarily driven by the growth of ALYGLO®. ALYGLO® generated KRW 34.9 billion in sales for the first quarter, which is approximately four times higher than in the same period last year. The company expects the quarterly sales growth trend of ALYGLO® to continue throughout this year.

In addition, the U.S. customs policy announced in April included plasma derived therapies as exempt items, which is expected to resolve uncertainties surrounding the business environment in the United States.

The operation of ABO Plasma, GC’s U.S. plasma center subsidiary, is also stabilizing. With the recent FDA approval for the Laredo plasma center in Texas, both the expansion of plasma sales and stable supply are anticipated. In addition, the company is working to open the Eagle Pass plasma center within the year.

By business segment, standalone sales for Green Cross Corp. were as follows: plasma derived therapies KRW 114.9 billion, vaccines KRW 56.8 billion, prescription drugs KRW 81.6 billion, and over-the-counter drugs and consumer healthcare products KRW 32.4 billion.

The consolidated subsidiaries also announced their earnings earlier. GC Cell and GCMS reported sales of KRW 37.4 billion and KRW 23.6 billion, respectively. GC Wellbeing achieved KRW 49.1 billion in sales, bolstered by strong sales of Maunja-ro. However, on March 31, Green Cross Corp. sold its entire stake in GC Wellbeing to GC, and as a result, GC Wellbeing will be excluded from the consolidated financial statements starting in the second quarter.

A Green Cross Corp. official stated, "We will continue the trend of performance improvement based on the stable growth of our key products."

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