Press Releases
Samsung Biologics Reports Fourth Quarter & Fiscal Year 2021 Financial Results
COMPANY NEWS
Samsung Biologics Reports Fourth Quarter & Fiscal Year 2021 Financial Results
·
Q4’21 revenue of KRW 444.3
billion increased 18% compared to Q4’20.
·
Q4’21 operating profit of KRW 128.8
billion increased 39% compared to Q4’20.
·
FY’21 revenue of KRW 1,568.0
billion, an increase of 35% compared to FY’20.
·
FY’21 operating profit of KRW
537.3 billion, an increase of 84% compared to FY’20.
·
Stable business operations and
improved utilization rates across Plants 1, 2, and 3.
·
2022 Financial Outlook
includes proactive investments into future growth engines for sustainable
growth.
Incheon, S. Korea,
January 24, 2022 – Samsung Biologics (KRX:
207940.KS), the world’s leading contract development and manufacturing
organization, today announced strong financial results for the fourth quarter and
record-high earnings for the fiscal year of 2021.
John Rim, CEO of Samsung Biologics, stated, “With a steep
increase in demand for medicines due to the prolonged COVID-19 pandemic, there
was a great need for CDMO capabilities around the world to ensure a reliable
supply of high-quality biological products. By successfully managing all
potential impact from the pandemic with strong business continuity and
operational excellence, Samsung Biologics achieved solid growth and increased
sales in an extraordinary year and made meaningful progress in building
momentum around our long-term business and capacity. Our fourth-quarter
financial performance demonstrates our ability to execute a robust and
resilient approach to maintaining business continuity while adapting at every
level to the needs of our clients and partners. Our concerted efforts have
enabled us to achieve our financial targets and lay a foundation to deliver
future growth. As we look towards 2022, we remain fully committed to delivering
high-quality, life-saving treatments to our partners and patients around the
world.”
FOURTH QUARTER &
FISCAL YEAR 2021 RESULTS
Fourth quarter 2021 revenue was KRW 444.3 billion, an
increase of 18% from KRW 375.3 billion reported for the fourth quarter in the
previous year, attributable to increased utilization of Plants 1 and 3, and
sales activities bringing in new contracts.
Fourth quarter 2021 operating profit was KRW 128.8 billion,
39% higher than the prior-year period leveraging steady sales growth.
Fourth quarter 2021 net profit reached KRW 79.3 billion, a
decrease of KRW 16.9 billion from KRW 96.2 billion in the fourth quarter a year
ago, and fourth quarter 2021 operating margin was 29% due to increased
utilization across all plants and improved product mix.
Samsung Biologics demonstrated strong operational
excellence and business agility in 2021 with Plants 1, 2, and 3 in stable
operations, and laid a strong mRNA business foundation through signing strategic
partnership agreements with Moderna for fill and finish and Greenlight
Biosciences for the manufacturing of mRNA vaccines. Samsung Biologics also
launched its newest CDO process platform, S-CellerateTM, which
offers an expedited process for the development and commercialization of monoclonal
antibodies.
[KRW
billion]
|
Q4’21 |
Q4’20 |
YoY
Change |
FY
21 |
FY
20 |
Revenues |
444.3 |
375.3 |
+18% |
1,568 |
1,164.8 |
Operating Profit |
128.8 |
92.6 |
+39% |
537.3 |
292.8 |
PBIT |
109.2 |
76.7 |
+42% |
561.3 |
266.0 |
Net Income |
79.3 |
96.2 |
-17.5% |
393.6 |
241.0 |
FISCAL YEAR 2022
OUTLOOK
At the JP Morgan Healthcare Conference, the
company addressed the three core pillars of its multidimensional growth plan, which
includes increasing manufacturing capacity, enhancing portfolio diversification,
and expanding facilities overseas.
In addition to steadily securing client pre-sales, Plant 4
construction is expected to complete six months ahead of schedule, commencing
operations to support 10KL production capacity in Q4 2022 and 15KL by mid-2023.
Upon its full completion, the company is expected to hold a total of 620KL of
capacity, reaffirming its position as the world’s largest CDMO.
As part of its growth plan, Samsung Biologics is planning
to start the construction of a new facility, Plant 5 in 2022 where it will
offer multi-modal product services including cell and gene therapies and
next-gen vaccines utilizing mRNA, pDNA and viral vectors, all at a single site.
This is in addition to the mRNA vaccine drug substance (DS) manufacturing
suite, which is expected to be ready for CGMP operations at its existing
facility in Songdo within the earlier part of this year.
The company is further venturing into securing additional land
within Songdo for the construction of future plants and an Open Innovation
Center, as well as overseas in multiple locations to maximize both its
manufacturing capacity to produce large-scale biologics and be in closer
proximity to its global clients, further expanding its global footprint beyond
its San Francisco R&D center.
With the increasing importance of sustainability, Samsung
Biologics will continue to prioritize its ESG commitments through steady improvement
in lowering operational GHG emissions and participating various climate change
initiatives including the Sustainable Markets Initiative in the lead up to
COP27.
For more details on performance and financials, please refer to the Earnings Release.
COMPANY NEWS
Samsung Biologics Reports Fourth Quarter & Fiscal Year 2021 Financial Results
· Q4’21 revenue of KRW 444.3 billion increased 18% compared to Q4’20.
· Q4’21 operating profit of KRW 128.8 billion increased 39% compared to Q4’20.
· FY’21 revenue of KRW 1,568.0 billion, an increase of 35% compared to FY’20.
· FY’21 operating profit of KRW 537.3 billion, an increase of 84% compared to FY’20.
· Stable business operations and improved utilization rates across Plants 1, 2, and 3.
· 2022 Financial Outlook includes proactive investments into future growth engines for sustainable growth.
Incheon, S. Korea, January 24, 2022 – Samsung Biologics (KRX: 207940.KS), the world’s leading contract development and manufacturing organization, today announced strong financial results for the fourth quarter and record-high earnings for the fiscal year of 2021.
John Rim, CEO of Samsung Biologics, stated, “With a steep increase in demand for medicines due to the prolonged COVID-19 pandemic, there was a great need for CDMO capabilities around the world to ensure a reliable supply of high-quality biological products. By successfully managing all potential impact from the pandemic with strong business continuity and operational excellence, Samsung Biologics achieved solid growth and increased sales in an extraordinary year and made meaningful progress in building momentum around our long-term business and capacity. Our fourth-quarter financial performance demonstrates our ability to execute a robust and resilient approach to maintaining business continuity while adapting at every level to the needs of our clients and partners. Our concerted efforts have enabled us to achieve our financial targets and lay a foundation to deliver future growth. As we look towards 2022, we remain fully committed to delivering high-quality, life-saving treatments to our partners and patients around the world.”
FOURTH QUARTER & FISCAL YEAR 2021 RESULTS
Fourth quarter 2021 revenue was KRW 444.3 billion, an increase of 18% from KRW 375.3 billion reported for the fourth quarter in the previous year, attributable to increased utilization of Plants 1 and 3, and sales activities bringing in new contracts.
Fourth quarter 2021 operating profit was KRW 128.8 billion, 39% higher than the prior-year period leveraging steady sales growth.
Fourth quarter 2021 net profit reached KRW 79.3 billion, a decrease of KRW 16.9 billion from KRW 96.2 billion in the fourth quarter a year ago, and fourth quarter 2021 operating margin was 29% due to increased utilization across all plants and improved product mix.
Samsung Biologics demonstrated strong operational excellence and business agility in 2021 with Plants 1, 2, and 3 in stable operations, and laid a strong mRNA business foundation through signing strategic partnership agreements with Moderna for fill and finish and Greenlight Biosciences for the manufacturing of mRNA vaccines. Samsung Biologics also launched its newest CDO process platform, S-CellerateTM, which offers an expedited process for the development and commercialization of monoclonal antibodies.
[KRW billion]
| Q4’21 | Q4’20 | YoY Change | FY 21 | FY 20 |
Revenues | 444.3 | 375.3 | +18% | 1,568 | 1,164.8 |
Operating Profit | 128.8 | 92.6 | +39% | 537.3 | 292.8 |
PBIT | 109.2 | 76.7 | +42% | 561.3 | 266.0 |
Net Income | 79.3 | 96.2 | -17.5% | 393.6 | 241.0 |
FISCAL YEAR 2022 OUTLOOK
At the JP Morgan Healthcare Conference, the company addressed the three core pillars of its multidimensional growth plan, which includes increasing manufacturing capacity, enhancing portfolio diversification, and expanding facilities overseas.
In addition to steadily securing client pre-sales, Plant 4 construction is expected to complete six months ahead of schedule, commencing operations to support 10KL production capacity in Q4 2022 and 15KL by mid-2023. Upon its full completion, the company is expected to hold a total of 620KL of capacity, reaffirming its position as the world’s largest CDMO.
As part of its growth plan, Samsung Biologics is planning to start the construction of a new facility, Plant 5 in 2022 where it will offer multi-modal product services including cell and gene therapies and next-gen vaccines utilizing mRNA, pDNA and viral vectors, all at a single site. This is in addition to the mRNA vaccine drug substance (DS) manufacturing suite, which is expected to be ready for CGMP operations at its existing facility in Songdo within the earlier part of this year.
The company is further venturing into securing additional land within Songdo for the construction of future plants and an Open Innovation Center, as well as overseas in multiple locations to maximize both its manufacturing capacity to produce large-scale biologics and be in closer proximity to its global clients, further expanding its global footprint beyond its San Francisco R&D center.
With the increasing importance of sustainability, Samsung Biologics will continue to prioritize its ESG commitments through steady improvement in lowering operational GHG emissions and participating various climate change initiatives including the Sustainable Markets Initiative in the lead up to COP27.
For more details on performance and financials, please refer to the Earnings Release.