Bioneer Reports Q2 Operating Profit of 22.6 Billion KRW, Down 29.2% YoY

"Sales Decline Due to Decrease in Unit Price in Diagnostic Business Sector"

[Asia Economy Reporter Kim Ji-hee] Bioneer announced on the 29th that its operating profit for the first half of this year reached 40.8 billion KRW, a 29.2% increase compared to the previous year. During the same period, sales increased by 44.7% to 104 billion KRW, and the operating profit margin was 39.2%.

Second-quarter sales were 54.1 billion KRW, and operating profit was 22.6 billion KRW. Compared to the previous quarter, these figures increased by 8.5% and 24.8%, respectively, but decreased by 8.7% and 29.2% compared to the same period last year.

The diagnostics division saw a decline in sales due to a drop in selling prices compared to the same period last year. The probiotics division continued its growth trend with a 100.7% increase year-on-year and a 19.7% increase quarter-on-quarter.

A company representative explained, “Since July, demand in the diagnostics sector has sharply increased due to the spread of the Delta variant, and with the completion of the Molecular Diagnostics Global Center, a significant performance increase is expected in the second half of the year.” He added, “The probiotics business is also achieving results beyond market expectations for the first half of the year, driven by high repurchase rates of Bienalssin and the influx of new demand.” He continued, “Starting in the second half of the year, we plan to strengthen independent marketing by recruiting a new exclusive model for Bienalqueen, a product for menopause, so we expect the growth trend to continue.”