Samsung Biologics achieved its highest-ever operating profit last year, surpassing $748 million (1 trillion won) for the first time. This marks the first time a South Korean pharmaceutical or biotech company exceeded an annual operating profit of 1 trillion won. Within the Samsung Group, Samsung Biologics has become the ninth listed company to enter the ‘1 trillion won club,’ joining others such as Samsung C&T and Samsung Electro-Mechanics in 2018 and Samsung SDI and Samsung Securities in 2021.
On Jan. 24, Samsung Biologics reported consolidated revenue of $2.8 billion (3.7 trillion won) and an operating profit of $833 million (1.1 trillion won) last year. These figures represent a 23% increase in revenue and a 13% increase in operating profit compared to the previous year’s revenue of $519 million (693.3 billion won) and operating profit of $97.4 million (130.1 billion won). Excluding its subsidiary Samsung Bioepis, the company’s standalone revenue was $2.2 billion (2.9 trillion won), a 21% increase from last year, and its operating profit was $902 million (1.2 trillion won), showing a 24% rise year-on-year.
The performance of Samsung Biologics over the past year has garnered significant market attention, significantly as it sharply contrasts with the recent downward revisions in earnings forecasts for major contract development and manufacturing organization (CDMO) competitors, including Swiss firm Lonza and China’s Wuxi Biologics.
Samsung Biologics stated, “We anticipate this year’s revenue to grow by 10-15 % from last year, continuing our strong growth trend.” The company’s revenue forecast for the current year is around $3.1 billion (4.2 trillion won).
