Samsung Biologics Reports 66% Increase in 2020 Revenue Achieving "1 Trillion Won" Target Sales
INCHEON, South Korea, Jan. 26, 2021 /PRNewswire/ -- Samsung Biologics (KRX: 207940.KS) reported its fourth quarter and full-year 2020 financial results indicating strong business performance, benefitting from increased sales across all plants and significant business agility and operating excellence in overcoming various challenges and global uncertainties amid the COVID-19 pandemic throughout the year.
Driven by strong sales volumes across all plants, the company's revenue rose 66% to KRW1,164.8 billion in 2020, an increase of KRW463.2 billion from the previous year. Operating profit was reported at KRW292.8 billion, reflecting an operating margin of 25%, a 12%p increase of KRW201.1 billion, doubling the prior year's record attributable to substantial operating leverage.
The company recorded significant quarterly sales in Q4 2020, the highest in its history, with revenues of KRW375.3 billion, an increase of 36.7% from the previous quarter. Quarterly operating margin also maintained a high at 24.7%, gaining a 4%p increase with an operating profit of KRW92.6 billion, primarily attributable to improved plant operations buoyed by accelerated manufacturing contracts for COVID-19 treatments.
Throughout the pandemic, the company demonstrated outstanding business agility in successfully managing its global supply chain and investing in technology enabled capabilities such as its Live Virtual Tour platform to ensure its ability to host client due diligence and regulatory inspections, helping to achieve a steady inflow of contracts valued approximately at $1.78 billion in 2020, 2.5 times higher than the previous year.
Samsung Biologics also announced its 2021 plans to focus on the continuous operational efficiency of its plants 1, 2, and 3, and the early lock-in of contracts for its newest manufacturing facility, Plant 4. The company unveiled at the recent JP Morgan Healthcare Conference its long-term business plan to secure the next growth engine through business expansion and portfolio diversification strategies.
About Samsung Biologics Co., Ltd.
Samsung Biologics (KRX: 207940.KS) is a fully integrated CDMO offering state-of-the-art contract development, manufacturing, and laboratory testing services. With proven regulatory approvals, the largest capacity at single site, and the fastest throughput, Samsung Biologics is an award-winning partner of choice and is uniquely able to support the development and manufacturing of biologics products at every stage of the process while meeting the evolving needs of biopharmaceutical companies worldwide. For more information, visit www.samsungbiologics.com.
Samsung Biologics Forward Looking Statements
This press release contains certain statements that constitute forward-looking statements, including statements that describe Samsung Biologics' objectives, plans or goals. All such forward-looking statements, and the assumptions on which they are based, are subject to certain risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. There can be no assurance that the results and events contemplated by the forward-looking statements contained herein will in fact occur. Except as required by law, Samsung Biologics will not update any forward-looking statements to reflect material developments that may occur after the date of this press release.
SOURCE Samsung Biologics
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