Samsung Biologics exceeded 1 trillion won in annual sales after 9 years of establishment.
On the 26th, Samsung Biologics announced on the 26th that last year’s sales rose 66% from the previous year to record KRW 1.16 trillion. This is the first time since its inception in 2011 that annual sales exceeded 1 trillion won.
Annual operating profit was KRW 292.9 billion, an increase of 219.14% from the previous year.
Regarding the factors that increase sales, Samsung Biologics explained, “Last year’s sales were affected by the high utilization rate of plant 1, continued full operation of plant 2, and gradual increase in utilization rate of plant 3”
In addition, a company official said, “Compared to 2015, when full-fledged sales began to occur, last year’s sales increased more than 12 times, and the annual average increase in sales for five years reached 66.4%.”
Last year, Samsung Biologics won a total of $1.78 billion, including GSK’s $627 million project. This is about 2.5 times the sales in 2019.
The operating margin was 25%, nearly doubled from 13% in 2019. In a business where a large amount of fixed costs was invested, the operating leverage effect occurred as the sales exceeded a certain level, resulting in a significant increase in the operating margin.
In addition, it achieved the highest quarterly performance ever in the fourth quarter of last year.
Consolidated sales for the fourth quarter were KRW 375.3 billion, up 18.78% year-on-year. Increased factory utilization and some COVID-19 treatments were reflected in sales. Operating profit in the fourth quarter was 92.6 billion won, a 13.45% decrease from the previous year and a 63.9% increase from the previous quarter.
Such quarterly results are far exceeding the stock price forecast, including sales of 280 billion won and operating profit of 60 billion won.
Samsung Biologics has won 47 orders for total commissioned production (CMO) until last year and opened a global CDO R&D center. The CDO project achieved a cumulative 63 projects, and introduced its own cell line’S-CHOice’.
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This year, we plan to focus our capabilities on efficient operation of production facilities and early orders for the 4th plant. The production capacity of the 4th plant is expected to reach 256,000 liters.
In addition, the company plans to secure next-generation growth engines and super-differential competitiveness by expanding production capacity and diversifying business portfolios over the next 10 years.