Samsung Biologics Shows Strong Growth in FY 2024 Financials
Samsung Biologics Reports Impressive Q4 and FY 2024 Performance
Samsung Biologics has announced a remarkable performance for the fourth quarter and the entire fiscal year of 2024. The company, known for its role as a global contract development and manufacturing organization (CDMO), recorded consolidated revenues that reflect substantial growth and the effectiveness of its strategic initiatives.
Strong Financial Performance in Q4 2024
In the fourth quarter of 2024, Samsung Biologics achieved a consolidated revenue of KRW 1.26 trillion, showcasing a significant increase from previous periods. This growth can primarily be attributed to the enhanced performance of Plant 4 and the optimal usage of its earlier plants.
Key Financial Metrics
The operating profit for the same quarter stood at KRW 325.7 billion. Over the entire fiscal year, Samsung Biologics reported a consolidated revenue of KRW 4.55 trillion, reflecting a 23% increase compared to KRW 3.69 trillion in 2023. Moreover, the operating profit was also impressive, reaching KRW 1.32 trillion, a 19% growth year-over-year.
Strategic Growth Initiatives
Samsung Biologics remains committed to growth through the expansion of its manufacturing capacity and service offerings. The anticipated launch of Plant 5, coupled with the introduction of Antibody-Drug Conjugate (ADC) services, promises to further enhance its market positioning and service capabilities.
Enhancing Service Through Innovation
The company is also investing in innovative technologies and sustainability practices, aiming to provide tailored solutions that meet the evolving needs of its clientele. With more than 110 clients, including 17 top pharmaceutical companies worldwide, Samsung Biologics has surpassed a cumulative total contract value of USD 16.3 billion.
Looking Ahead: Fiscal Year 2025 Projections
As Samsung Biologics prepares for 2025, it anticipates benefiting from full operations of Plant 4 and the new Plant 5 at Bio Campus II, which is set to be operational by April 2025. This expansion will boost the company's total production capacity to 784,000 liters, with plans for a sixth facility under consideration to meet rising demand.
Commitment to Sustainability
The growth strategy includes enhancing sustainable practices across operations. Samsung Biologics is part of the Sustainable Markets Initiative's Health Systems Task Force, focusing on developing practical guidelines for decarbonizing healthcare supply chains.
About Samsung Biologics
Samsung Biologics (KRX: 207940.KS) is a fully integrated CDMO. The company offers a comprehensive range of services from cell line development to the final stages of aseptic fill/finish and laboratory testing for biopharmaceuticals. Its state-of-the-art, CGMP-compliant facilities are equipped to meet diverse client needs, emphasizing operational efficiency and capability expansion.
Contact Information
For more information about Samsung Biologics, please contact Claire Kim, Head of Global Marketing Communications.
Frequently Asked Questions
What were Samsung Biologics' revenue figures for Q4 2024?
Samsung Biologics reported consolidated revenue of KRW 1.26 trillion for Q4 2024.
How much did Samsung Biologics earn in FY 2024?
The company achieved consolidated revenue of KRW 4.55 trillion in fiscal year 2024.
What are the future plans for Samsung Biologics?
Future plans include the launch of Plant 5 and the introduction of ADC services to enhance service offerings and production capabilities.
How is Samsung Biologics addressing sustainability?
Samsung Biologics has committed to sustainability through partnerships and by being part of initiatives aimed at improving healthcare supply chain practices.
Where are Samsung Biologics' facilities located?
Samsung Biologics operates state-of-the-art CGMP-compliant facilities designed to support biopharmaceutical production needs globally.
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