Press Releases
Samsung Biologics records annual sales of KRW 535.8 billion and Operating Profit 55.7 billion in 2018
Samsung Biologics records annual sales of KRW 535.8 billion and Operating Profit 55.7 billion in 2018
‘19. 01. 31(Thurs)
Incheon, South Korea, January 31st, Samsung Biologics (CEO: Tae Han Kim) today announced its business performance for 2018. The company posted that it had recorded annual sales of KRW 535.8 billion, operating profit of KRW 55.7 billion, and net profit of KRW 224.1 billion.
Sales increased by KRW 71.2 billion (+15.3%) due to increase of capacity utilization in Plant No. 2. Operating profit fell by KRW 10.3 billion (-15.6%) due to depreciation cost from Plant No. 3 operation and an increase in SG&A expenses.
Net profit increased by KRW 321.1 billion YOY due to cash inflows from the asset transfer deal with Biogen in November of last year.
Samsung Biologics transferred 9,226,068 Samsung BioEpis shares to Biogen and paid KRW 759.5 billion in cash as Biogen exercised the call option last year.
As a result, the assets to be held for disposal and derivative liabilities that were reflected in the existing financial statements were both removed and the final difference of KRW 389.2 billion has been reflected in non-operating income in the Q4 of 2018.
In addition, the debt-to-equity ratio, which was 81% at the end of 2017, dropped to 44% by the end of 2018 due to the removal of derivatives liabilities resulting from the call option. Cash assets amounted to about KRW 1,100 billion at the end of 2018 from KRW 350 billion at the end of 2017.
※ Samsung Biologics Financial Result 2018 (Billion KRW)
|
2018 |
2017 |
YoY |
Sales |
535.8 |
464.6 |
+71.2(+15.3%) |
Operating Profit |
55.7 |
66 |
-10.3(-15.6%) |
Net Profit |
224.1 |
-97 |
+321.1 (Turn into profit-making) |
Liabilities |
1,824.9 |
3,200.6 |
-1,381.7(+36.7%) |
Sales in the fourth quarter were KRW 178.3 billion, an increase of KRW 77.2 billion (76.4%) from the previous quarter due to increased product shipments. However, operating profit recorded KRW 11.5 billion (9.5%), an increase of KRW 1 billion due to depreciation in Plant No. 3 and increase in commission fees.
Net profit was KRW 317.3 billion, an increase of KRW 347.4 billion due to the close of the asset transfer with Biogen.
Meanwhile, Samsung Biologics announced that it had received a total of 45 product manufacturing contracts from 25 companies and the company is targeting for more than 12 CMO and 10 CRO/CDO orders by the end of this year.
The company also announced that it plans to raise orders for Plant No. 3 ? which currently secured 25% of total production capacity ? to 50 % by the end of the year.
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Samsung Biologics records annual sales of KRW 535.8 billion and Operating Profit 55.7 billion in 2018
‘19. 01. 31(Thurs)
Incheon, South Korea, January 31st, Samsung Biologics (CEO: Tae Han Kim) today announced its business performance for 2018. The company posted that it had recorded annual sales of KRW 535.8 billion, operating profit of KRW 55.7 billion, and net profit of KRW 224.1 billion.
Sales increased by KRW 71.2 billion (+15.3%) due to increase of capacity utilization in Plant No. 2. Operating profit fell by KRW 10.3 billion (-15.6%) due to depreciation cost from Plant No. 3 operation and an increase in SG&A expenses.
Net profit increased by KRW 321.1 billion YOY due to cash inflows from the asset transfer deal with Biogen in November of last year.
Samsung Biologics transferred 9,226,068 Samsung BioEpis shares to Biogen and paid KRW 759.5 billion in cash as Biogen exercised the call option last year.
As a result, the assets to be held for disposal and derivative liabilities that were reflected in the existing financial statements were both removed and the final difference of KRW 389.2 billion has been reflected in non-operating income in the Q4 of 2018.
In addition, the debt-to-equity ratio, which was 81% at the end of 2017, dropped to 44% by the end of 2018 due to the removal of derivatives liabilities resulting from the call option. Cash assets amounted to about KRW 1,100 billion at the end of 2018 from KRW 350 billion at the end of 2017.
※ Samsung Biologics Financial Result 2018 (Billion KRW)
| 2018 | 2017 | YoY |
Sales | 535.8 | 464.6 | +71.2(+15.3%) |
Operating Profit | 55.7 | 66 | -10.3(-15.6%) |
Net Profit | 224.1 | -97 | +321.1 (Turn into profit-making) |
Liabilities | 1,824.9 | 3,200.6 | -1,381.7(+36.7%) |
Sales in the fourth quarter were KRW 178.3 billion, an increase of KRW 77.2 billion (76.4%) from the previous quarter due to increased product shipments. However, operating profit recorded KRW 11.5 billion (9.5%), an increase of KRW 1 billion due to depreciation in Plant No. 3 and increase in commission fees.
Net profit was KRW 317.3 billion, an increase of KRW 347.4 billion due to the close of the asset transfer with Biogen.
Meanwhile, Samsung Biologics announced that it had received a total of 45 product manufacturing contracts from 25 companies and the company is targeting for more than 12 CMO and 10 CRO/CDO orders by the end of this year.
The company also announced that it plans to raise orders for Plant No. 3 – which currently secured 25% of total production capacity – to 50 % by the end of the year.