CHA Biotech said on the 27th that last year's operating loss came to 47.5 billion won.
Last year's revenue was 1.2683 trillion won, up 21% from a year earlier, and the net loss was 139.2 billion won.
The company pointed to new business investments at Matica Biotechnology in the United States, rising construction costs for a new ward at the LA Hollywood CHA Hospital, and continued investment in the R&D pipeline as reasons for the operating loss.
It analyzed that revenue increased thanks to solid growth at domestic subsidiaries including CHA Biotech and continued growth in overseas healthcare businesses in the United States and Australia.
It said the net loss reflected non-cash accounting factors such as fair value assessments and book interest for convertible bonds (CB), bonds with warrants (BW), exchangeable bonds (EB), and redeemable convertible preferred shares (RCPS), as well as foreign exchange losses from currency fluctuations.
The company said that most of the CBs, BWs and RCPSs have now been converted into shares and resolved.
On a separate financial statements basis, revenue was 62.2 billion won, up 15% from a year earlier. Business areas such as immune cell and stem cell storage, genomic analysis, and healthcare IT grew evenly.
The operating loss was 4.7 billion won due to higher R&D expenses from accelerating development of key pipelines and expanding research staff. The net loss was 33 billion won. Increased expenses that did not involve cash outflows, such as fair value assessments of issued securities and book interest, had an impact.