SK bioscience continued to post an operating loss last year despite a surge in revenue.
SK bioscience said on the 3rd in a disclosure that revenue on a consolidation basis last year rose 143.5% from a year earlier to 651.4 billion won. During the same period, the operating loss came to 123.5 billion won, down 10.8% from a year earlier.
Fourth-quarter revenue last year was 184.2 billion won, up 17.4% from the same period a year earlier. During the same period, the operating loss was 51.6 billion won, up 1.6%.
The company said improved results at subsidiary IDT Biologika drove top-line growth.
IDT Biologika posted 465.7 billion won in revenue last year, growing about 17% from a year earlier. Operating profit was 9.9 billion won, swinging to the black. The company said, "Strengthening partnerships with existing clients and productivity gains through process efficiencies were key."
SK bioscience said its own vaccines are also maintaining a trend of expanding sales, centered on global markets. It added that increased sales of Sanofi products distributed domestically also contributed to improved results.
A company official said, "Revenue related to Sanofi more than tripled from a year earlier."