- Recorded Q1'24 consolidated revenue of KRW 946.9 billion
- Recorded Q1'24 consolidated operating profit of KRW
221.3 billion
- Sustained growth driven by ongoing strategic expansion in
capacity and portfolio
INCHEON, South Korea,
April 24,
2024 /PRNewswire/ -- Samsung Biologics (KRX:
207940.KS), a global contract development and manufacturing
organization (CDMO), today announced financial results for the
first quarter of fiscal year 2024.
"Our continued growth momentum reflects not only our ability to
meet the diverse and expanding needs of our clients, but also our
unwavering commitment to quality and operational excellence. With
accumulated orders exceeding USD 12.5
billion, the demand for our client-centric services remains
robust," said John Rim, CEO and
President of Samsung Biologics. "Proactive investments in
cutting-edge therapeutic technologies and the ongoing construction
of our antibody-drug conjugate (ADC) facility will drive our
advancements in next-generation drug development. We also remain
fully committed to expanding our production capabilities and
securing additional capacity with the completion of Plant 5 next
year to support market demands and deliver exceptional value to our
partners and shareholders."
FIRST QUARTER 2024 RESULTS
In the first quarter of 2024, Samsung Biologics reported a
consolidated revenue of KRW 946.9
billion, marking a 31.3% increase from KRW 720.9 billion in the prior-year period. This
growth was driven by the successful ramp-up of Plant 4 operations
supporting a robust sales backlog and contribution from the Bioepis
subsidiary.
Consolidated operating profit reached KRW
221.3 billion, while net profit stood at KRW 179.4 billion, marking a 26.5% increase from
KRW 141.8 billion in the first
quarter of the previous year. The outlook remains positive, with a
gradual increase in Plant 4's operations expected to drive
quarterly growth and a projected 10-15% annual revenue increase for
2024.
On a standalone basis, Samsung Biologics reported KRW 669.5 billion in revenue,13.3% higher than
the prior-year period, while operating profit reached KRW 232.7 billion.
[Consolidated Earnings, KRW billion]
|
Q1'24
|
Q1'23
|
YoY
Change
|
Revenue
|
946.9
|
720.9
|
+226.0
(+31.3%)
|
Operating
Profit
|
221.3
|
191.7
|
29.6
(+15.4%)
|
EBITDA
|
364.7
|
292.4
|
72.3
(+24.7%)
|
FISCAL YEAR 2024 OUTLOOK
Samsung Biologics remains committed to its strategic
investments, poised to meet rising capacity demand and adapt to
evolving market dynamics. Construction of Plant 5 is well on track,
with operations set to commence in April
2025.
To drive future, long-term growth, the company's standalone ADC
manufacturing facility, which will be operational within 2024, will
enable clients to manage products with maximum efficiency and
minimum risk, ensuring high-quality delivery and speed-to-market.
In February, Samsung Biologics entered into a partnership with
LigaChem Biosciences to collaborate on the development of a solid
tumor ADC program. The company has also invested in biotech
companies with promising ADC technologies as part of its continued
efforts to diversify its portfolio.
In line with its net-zero goals, Samsung Biologics continues to
embed sustainability into all business operations by improving
energy efficiency, transitioning to renewable energy, minimizing
the use of disposables, and collaborating with suppliers to reduce
their direct emissions. The company was recognized in the first
quarter from major ESG agencies, receiving EcoVadis' Platinum
Sustainability Rating and Leadership status with an A- rating from
the Carbon Disclosure Project (CDP) for its ongoing efforts to
mitigate the risks of climate change. By engaging with global
initiatives including the Sustainable Markets Initiative (SMI) and
the Sustainable Aviation Buyers Alliance (SABA), Samsung Biologics
continues to forge partnerships and drive innovations that
accelerate the transition to a more sustainable and low-carbon
future.
Samsung Biologics recently received the 2024 CDMO Leadership
Award in all six performance categories—quality, reliability,
capabilities, expertise, compatibility, and services—for its
unwavering commitment to client satisfaction.
For more details on performance and financials, please refer to
the Earnings Release.
About Samsung Biologics Co., Ltd.
Samsung Biologics (KRX: 207940.KS) is a fully integrated,
end-to-end CDMO service provider, offering seamless development and
manufacturing solutions from cell line development to final aseptic
fill/finish as well as laboratory testing support for the
biopharmaceutical products we manufacture. Our state-of-the-art
facilities are CGMP compliant with bioreactors ranging from small
to large scales to serve varying client needs. To maximize our
operational efficiency and expand our capabilities in response to
growing biomanufacturing demand, Samsung Biologics completed
Bio Campus I with Plant 4, offering
a combined 604 KL total capacity, and launched Bio Campus II with the construction of Plant 5,
which will be operational in April
2025, adding 180 KL biomanufacturing capacity. Additionally,
Samsung Biologics America enables the company to work in closer
proximity to clients based in the U.S. and Europe. We continue to upgrade our
capabilities to accommodate our clients by investing in
technologies such as an antibody-drug conjugate (ADC) facility, a
dedicated mRNA manufacturing facility, and additional aseptic
filling capacity. As a sustainable CDMO partner of choice, we are
committed to on-time, in-full delivery of the products we
manufacture with our flexible manufacturing solutions, operational
excellence, and proven expertise.
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SOURCE Samsung Biologics