Celltrion: "All-Out Efforts to Hit 600 Billion Won in Q4 Operating Profit... Honor Shareholder Return Pledge"

Reaffirms earnings targets in shareholder letter
Seo Jungjin personally reviews global sales operations
One-third of net income to be returned through cash dividends or treasury share cancellations

Celltrion signaled its determination to meet the earnings targets it set at the start of the year. It also reaffirmed its shareholder return policy of returning one-third of net income through cash dividends or the cancellation of treasury shares.

In a shareholder letter on October 19, Celltrion said, "We met our operating profit targets without a hitch each quarter: 300 billion won in the first quarter, 400 billion won in the second quarter and 500 billion won in the third quarter. This was possible thanks to the trust and support of shareholders who believed in Celltrion's growth potential and waited patiently, as well as the dedication of all our employees, who have worked to keep our promises."

The company plans to meet its target of 600 billion won in operating profit in the fourth quarter as well. To that end, Chairman Seo Jung-jin summoned about 80 representatives from local subsidiaries in major markets around the world, including North America, Europe, Asia and South America, along with head office sales executives, to Uzbekistan early this month to personally review sales trends and earnings forecasts.

The company said, "Despite external factors such as the recent decline in exchange rates, we believe that, at this point, there will be no major difficulty in meeting our fourth-quarter operating profit target." It added, "In particular, Chairman Seo is firmly determined to meet the fourth-quarter operating profit target and honor our promise to shareholders. Based on that resolve, he plans to visit major markets around the world in person from mid-October, devoting every effort to on-site reviews in each country and encouraging sales activities."

Celltrion will also carry out its shareholder return policy as previously outlined. It reaffirmed its principle of returning one-third of net income to shareholders through cash dividends or the cancellation of treasury shares. The specific form of the returns will be decided after gathering shareholder feedback. The company also plans to strengthen profitability by securing future growth drivers through continued new drug development, efficiently allocating its research and development (R&D) budget, cutting manufacturing costs and improving productivity.

Celltrion said, "Keeping our promises to shareholders is the most important starting point for building trust in the company. We have not forgotten that the most important foundation for enhancing shareholder value is strengthening the company's underlying fundamentals." It added, "We will uphold to the very end the principle that the results of corporate growth must translate into tangible value gains for shareholders."

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