Samsung Biologics' strategic business operations continue to support strong third quarter earnings
INCHEON, South Korea, Oct. 21, 2020 /PRNewswire/ -- Samsung Biologics (KRX: 207940.KS) maintained steady financial results for its fiscal 2020 third quarter ending September 30, demonstrating confident execution of its ongoing business operations.
The Company recorded strong revenues of KRW 274.6 billion despite the economic impact and slowdown in the global market amid the COVID-19 pandemic. Furthermore, the Company posted an operating profit of a solid KRW 56.5 billion reflecting the Company's accelerated plans for expansion as part of its long-term strategy. Operating profit margin remained firm at a 20% level, and net income improved to KRW 56.1 billion quarter-on-quarter.
Compared to Q3 of last year, Samsung Biologics improved its revenues by KRW 89.8 billion at 49% as a result of continuous increase in sales volume across all plants. Operating profit increased by KRW 32.9 billion at 139% year-on-year. Gross and operating profit margin rates both improved by 5%p and 8%p respectively.
Samsung Biologics holds a solid financial position with third quarter assets of KRW 6.1 trillion, KRW 4.5 trillion in equity, and KRW 1.6 trillion in liabilities, with a debt ratio of 36.4% and borrowings ratio of 13.2%.
The strong Q3 financial results reaffirm the continuing execution of the Company's accelerated business strategy, further bolstered by its recent announcements for Plant 4 construction and the opening of its first global expansion with the R&D Center in San Francisco. Both Plant 4, dubbed the "Super Plant" and the new R&D facility are expected to elevate Samsung Biologics' global competitiveness and client satisfaction to the next level.
About Samsung Biologics Co., Ltd.
Samsung Biologics (KRX: 207940.KS) is a fully integrated CDMO offering state-of-the-art contract development, manufacturing, and laboratory testing services. With proven regulatory approvals, the largest capacity at a single site, and the fastest throughput, Samsung Biologics is an award-winning partner of choice and is uniquely able to support the development and manufacturing of biologics products at every stage of the process while meeting the evolving needs of biopharmaceutical companies worldwide. For more information, visit www.samsungbiologics.com.
Claire Kim email@example.com
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