Nexten Bioscience Achieves Strong Performance for Three Consecutive Quarters

NexenBio announced on the 13th that it recorded strong performance in the third quarter following the first and second quarters, increasing the likelihood of a turnaround this year.

NexenBio reported third-quarter standalone sales of 4.5 billion KRW, operating profit of 900 million KRW, and net profit of 1.3 billion KRW. On a consolidated basis, sales were 10.3 billion KRW, operating profit 400 million KRW, and net profit 200 million KRW.

Compared to the same period last year, standalone financial statements show sales increased by 42.3%, with both operating profit and net profit turning positive. Consolidated financial statements also showed a 25.3% increase in sales year-on-year, with operating profit and net income both turning positive.

This was the result of efforts to increase sales by improving profitability through cost ratio improvements in the main CNC automatic lathe division and actively expanding overseas exports to countries such as Turkey based on proactive sales activities.

A NexenBio representative stated, “We will strive to enhance corporate value based on improved performance by providing customer value through continuous quality improvement along with active domestic and international order efforts. Based on the growth of our core machine tool division, we will build a foundation for sustainable growth through appropriate investments and effective business diversification, including in the bio business.”