GC Green Cross, Q1 Operating Profit 41.8 Billion KRW... Up 736% YoY

Sales of 416.9 billion KRW, Net Profit of 18 billion KRW

[Asia Economy Reporter Lee Gwan-joo] GC Green Cross announced on the 2nd that its consolidated operating profit for the first quarter of this year reached 41.8 billion KRW, a 736.0% increase compared to the previous year. Sales grew by 47.7% to 416.9 billion KRW, while pre-tax profit and net profit recorded 32.4 billion KRW and 18.0 billion KRW, respectively.

On a separate basis, sales also showed strong performance driven by growth in domestic and overseas prescription drug sales. Hunterase's overseas sales in the first quarter more than doubled compared to the same period last year, and self-developed products such as DaviDuo and Neurapec also showed double-digit growth.

All business segments recorded net growth. Sales from the blood products business amounted to 94.7 billion KRW, prescription drugs 95.8 billion KRW, vaccines 17.4 billion KRW, and other segments including consumer healthcare totaled 56.5 billion KRW. Overseas performance of the Southern Hemisphere flu vaccine, which secured the largest volume order in history this year, is expected to be supplied in the second quarter as it was last year.

Consolidated listed affiliates that previously announced their results also posted strong performances. GC Cell recorded sales of 83.8 billion KRW and operating profit of 36.1 billion KRW in the first quarter, setting a new record. GC Green Cross MS showed a 93.4% growth with sales of 43.9 billion KRW due to the strong performance of the COVID-19 diagnostic kit business, and GC Green Cross Wellbeing nearly doubled its operating profit thanks to the strong performance of the injectable and health supplement businesses.

A GC Green Cross official said, “With continued sales growth of highly profitable proprietary products, a clear improvement in annual performance is expected.”