Samsung Bio Q3 Operating Profit 56.5 Billion KRW... 139% Increase YoY

[Asia Economy Reporter Seo So-jeong] Samsung Biologics (CEO Kim Tae-han) announced on the 21st that its sales in the third quarter of this year reached 274.6 billion KRW, and operating profit was 56.5 billion KRW, increasing by 49% and 139% respectively compared to the same period last year.

The cumulative performance up to the third quarter recorded sales of 789.5 billion KRW and operating profit of 200.2 billion KRW, exceeding last year's total sales of 701.6 billion KRW and operating profit of 91.7 billion KRW, due to a decrease in cost ratio from increased factory utilization rates.

Gross profit margin and operating profit margin maintained solid levels at 32% and 21%, respectively, increasing by 6 percentage points and 8 percentage points compared to the same period last year.

Compared to the previous quarter, sales decreased by 33.1 billion KRW due to a slight drop in sales volume caused by reduced utilization rates in the second quarter according to the annual production plan, and operating profit decreased by 24.6 billion KRW due to sales decline and increased selling and administrative expenses.