Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = Samsung BioLogics(hereinafter referred to as Samba) recorded its highest ever sales and operating profit in the first quarter.

Samba announced on the 24th that it recorded sales of KRW 946.9 billion and operating profit of KRW 221.3 billion on a consolidated basis in the first quarter of 2024.

Compared to the same period last year, sales increased by 31% and operating profit increased by 15%. Samsung BioLogics’ sales on a separate basis in the first quarter recorded KRW 669.5 billion, an increase of KRW 78.5 billion(+13%) compared to the same period last year due to increased sales contribution from Plant 4.

This is interpreted to be due to the increased sales contribution of Plant 4 and the expansion of the biosimilar business.

Samsung Bioepis’ first quarter sales recorded 280.1 billion won, an increase of 66.7 billion won(+31%) compared to the same period last year, due to increased sales of biosimilar products in overseas markets such as the United States and Europe.

Operating profit recorded KRW 38.1 billion, an increase of KRW 2 billion(+6%) compared to the same period last year, based on external growth resulting from increased product sales.

Samba forecasts quarterly performance growth due to a gradual increase in the operation rate of Plant 4, and maintained the same annual sales growth forecast of 10-15% compared to the previous year as previously presented. Meanwhile, Samba maintains a stable financial status with a debt ratio of 65.1% and a borrowing ratio of 15.0% on a consolidated basis.

By Soon-ki Lee(s8789@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

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