SD Biosensor said on the 25th that, on a consolidation basis, it posted an operating loss of 81 billion won last year. Revenue for the same period rose 2.3% to 710.6 billion won. The net loss came to 521.4 billion won.
The company cited amortization of intangible assets and impairment losses on goodwill and intangible assets arising from consolidation accounting related to the acquisition of Meridian Bioscience in the United States as the background for these results.
As for the increase in revenue, the company said sales of non-COVID products were strong, driving revenue growth with a 38.6 billion won increase on a separate basis from a year earlier. Sales expanded for product lines certified by the World Health Organization prequalification (WHO PQ), including the Standard Q HIV/syphilis simultaneous diagnostic kit, which achieved a 60% market share in Africa.
By subsidiary, the India subsidiary increased revenue as exports to international organizations grew. The Spain subsidiary, about three years after its establishment in 2022, expanded cartridge sales for the point-of-care molecular diagnostic platform Standard M10, as well as sales of the fluorescent immunoassay Standard F, through continuous product adoption evaluations and sales activities. In addition, the Italy subsidiary maintained solid profitability, and the Panama subsidiary also posted an operating profit.
A company official said, "Last year's results are significant in that we achieved revenue growth of more than 16 billion won from a year earlier even as COVID sales effectively ended," adding, "We offset the decline in COVID-19–related sales by expanding non-COVID products and successfully shifted to a more solid business structure."
The official added, "We plan to continue to secure medium- to long-term growth drivers by pursuing major global approvals such as the FDA, IVDR, and WHO PQ, based on non-COVID–centered products and platform businesses."
Also, at the investor presentation held offline that day, the official said, "With shareholder value enhancement and stable returns as the top priorities, we have established a policy to pay dividends of at least 20% of operating profit on a separate financial statement basis over the next three years," adding, "We will continue returning value to shareholders through strengthened core business competitiveness and improved profitability."