SK bioscience(302440) continued its revenue growth in the first half of this year, but its operating loss widened due to increased research and development expense and head office transfer expense. However, in the second quarter, thanks to improved results at German subsidiary IDT Biologika, it more than halved its operating loss from a year earlier.
SK bioscience said on the 10th that on a consolidation basis for the first half of this year, revenue was 324.3 billion won and operating loss was 60.3 billion won. Revenue rose 2.5% from 316.4 billion won a year earlier, but operating loss increased 14.9% from 52.5 billion won last year.
In the second quarter alone, revenue was 155.7 billion won and operating loss was 15.7 billion won. Revenue fell 3.8% from 161.9 billion won a year earlier, but operating loss shrank by 21.7 billion won from 37.4 billion won, narrowing the deficit by 57.9%.
The second-quarter revenue decline was due to the supply schedule for some in-house vaccines being deferred to the third quarter. The company said the entire volume is expected to be reflected in revenue during the third quarter.
The narrowing of the operating loss was influenced by improved results at IDT Biologika, acquired in 2024. With output increasing mainly among key clients, IDT Biologika reduced costs through workforce optimization and Production yield improvements.
SK bioscience said, "We plan to expand our contract development and manufacturing organization (CDMO) business through high value-added contracts and the acquisition of new clients in North America, Europe, and Asia."