This photo, provided by Samsung Biologics Co., shows the company’s production plant in Songdo, west of Seoul. (Yonhap)
SEOUL, July 23 (Korea Bizwire) — Samsung Biologics Co. said Wednesday its second-quarter net profit gained slightly on-year, backed by increased production output at its latest facilities.
Samsung Biologics’ net profit for the April-June period gained 2 percent on-year to 324.4 billion won (US$235.1 million), the company said in a regulatory filing.
Operating profit rose 9.5 percent on-year to 475.6 billion won, while sales increased 11.5 percent to 1.28 trillion won.
The net income, however, failed to meet market expectations. The average estimate of net profit by analysts stood at 354.8 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
For the first half of the year, Samsung Biologics’ sales totaled 2.59 trillion won and its operating profit came to 962.3 billion won, both up from the same period last year.
The biotech arm of Samsung Group said the second-quarter performance was driven by steady operations at its Plants 1 through 3, and accelerated operations at Plant 4.
The company noted it has signed a series of large-scale contract development and manufacturing organization (CDMO) deals with global pharmaceutical companies this year, surpassing 60 percent of its full-year order total from 2024.
Samsung Biologics said its total manufacturing capacity currently stands at 784,000 liters annually. Looking ahead, it plans to add three more plants at its second bio campus by 2032, bringing total capacity to 1.324 million liters.
(Yonhap)
