Samsung Biologics Reports Robust Financial Growth for 2024 Amid Expansions
Samsung Biologics Financial Performance Report 2024
Samsung Biologics, a prominent global contract development and manufacturing organization (CDMO), has revealed its financial results for the fourth quarter and the entire fiscal year of 2024. The company achieved a consolidated revenue of approximately KRW 1.26 trillion in Q4 while realizing a full-year revenue of KRW 4.55 trillion, marking a significant 23% increase compared to the prior year.
Business Growth Drivers
John Rim, CEO and President of Samsung Biologics, commented on the company's performance, stating that the positive results stem from ongoing collaborations with both pharmaceutical and biotechnology companies. The effective utilization of available resources, particularly through Plant 4's contributions and optimal operation of Plants 1 through 3, drove the company’s fiscal success.
In the fourth quarter, operating profit reached KRW 325.7 billion, representing a modest decrease due to various operational costs but still showcasing the company’s overall stability and growth ambition.
Yearly Earnings Overview
The total operating profit for 2024 stood at KRW 1.32 trillion, a striking 19% rise from the previous year. Samsung Biologics noted a milestone achievement by surpassing a total contract value of USD 4.3 billion for 2024, underlining its status as a trusted partner in the biopharmaceutical sector. The company has now secured 340 regulatory approvals, reiterating its commitment to maintaining quality and performance standards.
Key Performance Indicators: FY 2024
| Metrics | Q4 2024 (KRW billion) | Q4 2023 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| ----- | ---- | - | - | --- |
| Revenue | 1,256.4 | 1,073.5 | 4,547.3 | 3,694.6 |
| Operating Profit | 325.7 | 350.0 | 1,320.1 | 1,113.7 |
| EBITDA | 476.5 | 491.9 | 1,919.2 | 1,603.5 |
Future Directions: 2025 Outlook
Moving forward, Samsung Biologics is set to further boost its production capabilities with the full operation of Plant 4 and the anticipated opening of Plant 5 at Bio Campus II in April 2025. This new facility will expand the overall production capacity to 784,000 liters. The organization is also exploring plans for a sixth plant to meet the growing demand for biologics products, which would potentially raise the production capacity to 964,000 liters if approved.
Additionally, the company is committed to enhancing its capabilities in ADC (Antibody-Drug Conjugate) therapeutics, anticipating a dedicated facility that will address needs associated with next-generation biomedicines. The organization continues to prioritize investment in cutting-edge technologies, including their advanced platforms such as S-HiCon™, S-Tensify™, S-AfuCHO™, and S-OptiCharge™, all designed to facilitate clients in drug development.
Commitment to Sustainability
Samsung Biologics will also maintain its focus on sustainability initiatives. As part of its membership with the Sustainable Markets Initiative's Health Systems Task Force, the company is dedicated to formulating practical guidelines for reducing carbon footprints in healthcare supply chains in collaboration with public and private health leaders worldwide. By integrating eco-friendly practices into its operational model, Samsung Biologics aims to foster meaningful advancements in sustainability efforts.
In summary, the remarkable growth achieved in 2024 and the strategical outlook for 2025 showcase Samsung Biologics' resilience and committed vision for progress within the dynamic biopharmaceutical landscape.
Topics Business Technology）
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