Samsung Biologics Q3 Revenue Up 19%... Raises Full-Year Guidance

Revenue of KRW 1.493 trillion; operating profit of KRW 640.1 billion
"Plants 1 through 4 at full capacity, with Rockville revenue ramping up"

Samsung Biologics continued to deliver double-digit revenue growth and stable profitability in the third quarter. With all four of its existing plants operating at full capacity and revenue from its newly acquired U.S. plant added to the total, the company raised its full-year revenue growth guidance to 20%.

A view of Samsung Biologics Plant 4 in Yeonsu-gu, Incheon. Samsung Biologics

On October 21, Samsung Biologics announced that it recorded revenue of KRW 1.4903 trillion and operating profit of KRW 640.1 billion in the third quarter of this year. These figures represented increases of 19% and 1%, respectively, from the same period a year earlier. A Samsung Biologics official explained, "The results reflect the continued full-capacity operation of Plants 1 through 4, the gradual increase in the utilization rate of Plant 5, and the full contribution to revenue of the Rockville manufacturing facility in the U.S., which we acquired in March this year."

Samsung Biologics consequently raised its full-year revenue growth guidance from the previous range of 15% to 20% to 20%. The revised guidance reflects, among other factors, revenue from batches produced for Plant 5's certification in the second half of the year and the stabilization of commercial production at the Rockville manufacturing facility.

The company has also maintained a stable financial position. At the end of the third quarter, Samsung Biologics had assets of KRW 12.6702 trillion, equity of KRW 8.6893 trillion, and liabilities of KRW 3.9809 trillion. Its debt-to-equity ratio was 45.8%, and its borrowing ratio was 9.2%.

Orders have continued to come in for contract manufacturing (CMO) and contract development (CDO). Since its founding, the company has secured a cumulative total of 117 CMO orders and 184 CDO orders, with a total cumulative order value of approximately $22 billion. In the tender offer for PolyPeptide Group, a global peptide contract development and manufacturing organization (CDMO), Samsung Biologics secured tenders for 87.88% of the shares, exceeding the minimum acceptance condition of 66.7% required for the transaction to proceed. The company plans to complete the acquisition by paying the consideration within 10 trading days of obtaining regulatory approvals from the relevant authorities in Europe, India, Australia, and Brazil.

Samsung Biologics plans to build on the European sales office it opened in the Netherlands in August to strengthen its competitiveness in winning orders in the United States, Europe, Japan, and the Asia-Pacific region.

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