In Q1 2023 Samsung Biologics recorded a revenue of KRW 720.9 billionand an operating profit of KRW 191.7 billion. The performance in the first quarter of this year was driven by the stable growth of the contract manufacturing and development (CDMO) business and the connection to Samsung Bioepis’ performance. Both the combined sales of the two companies and the separate sales of Samsung Biologics are the largest ever.
“Enabled by the groundwork we have laid with our strategic capacity expansion plans, our first quarter results demonstrate stable revenue growth as we continue to drive strong operational excellence and business agility with full utilization of Plants 1, 2, and 3,” said John Rim, CEO and President of Samsung Biologics. “With continued partnership expansion with global pharma, we are focused on achieving sustainable growth and securing more robust capacity with Plant 4 set to be fully operational by June and the groundbreaking of Plant 5 to occur later this year. We will continue to anticipate client needs and execute on opportunities to meet the increasing market demand for biomanufacturing capacity.”
Consolidated Earnings, KRW billion
- Revenue – Q1 2023 720.9, Q1 2022 511.3, YoY Change +209.6
- Operating Profit – Q1 2023 191.7, Q1 2022 176.4, YoY Change +15.3
- Net Profit – Q1 2023 141.8, Q1 2022 146.9, YoY Change -5.1
- EBITDA – Q1 2023 292.4, Q1 2022 218.7, YoY Change +73.7
Apart from the revenue, Samsung Biologics is likely to complete the construction of its fifth plant later this year in response to increased market demand. Upon full completion of the fifth plant in 2025, the company will maintain its global biomanufacturing capacity leadership with a total of 784,000 liters.
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