Samsung Biologics said on the 22nd that its operating profit for the first quarter rose 35% from a year earlier to 580.8 billion won. Revenue for the same period increased 26% to 1.2571 trillion won.
The company said full operation of plants 1 through 4 drove earnings growth. In addition, with the ramp-up of plant 5 reflected, it maintained its annual revenue growth guidance of 15% to 20%. However, contributions to revenue from the acquisition of the Rockville, U.S., plant were not included in this outlook and will be reflected later.
Its financial structure also remained stable. As of the end of the first quarter, asset stood at 11.995 trillion won, equity at 7.9228 trillion won, and liability at 4.0722 trillion won. The debt ratio was 51.4%, and the borrowing fund ratio was 11.6%.
On the business side, it continues to win contracts across the entire scope of contract manufacturing (CMO) and contract development (CDO). Cumulative contract counts stand at 112 for CMO and 169 for CDO, and cumulative contract value totals $21.4 billion (31.6056 trillion won).
Production capacity was expanded through the acquisition of a manufacturing facility in Rockville, U.S. The company said it established a dual production system anchored in Songdo, Korea, and Rockville, U.S., enhancing its responsiveness to global customers.
On the portfolio front, it internalized master cell bank (MCB) production and vector manufacturing. With this, it secured an end-to-end (E2E) service system capable of executing from vector construction to investigational new drug (IND) filing within about nine months. It also strengthened production capabilities based on the Coalition for Epidemic Preparedness Innovations (CEPI) network.
In open innovation, it decided to establish Lilly Gateway Labs (LGL) in Songdo, Incheon, in partnership with Eli Lilly, U.S. This is the first case of a global pharmaceutical company's open innovation program entering Korea.
In sustainable management, it received the top "Platinum" rating from EcoVadis. It also strengthened supply chain management by completing verification of its product carbon footprint calculation system, signing ESG contracts with partners, and publishing an ESG engagement report.