
Samsung Biologics has made history by becoming the nation's first biotech company to hit 4 trillion won ($2.78 billion) in annual sales.
The company reported on Wednesday consolidated annual sales of 4.54 trillion won and an operating profit of 1.32 trillion won for 2024. Sales increased by 23 percent compared to the previous year, while operating profit grew by 19 percent.
On a standalone basis, Samsung Biologics recorded nearly 3.5 trillion won in annual sales, driven by strong performances from its fourth plant and full-capacity operations at its first through third plants.
Sales reached 3.497 trillion won, with an operating profit of 1.321 trillion won, reflecting a 19 percent and 10 percent increase year-on-year, respectively.
Samsung Bioepis, the company’s biosimilar subsidiary, achieved sales of 1.537 trillion won and an operating profit of 435.4 billion won. The expansion of its biosimilar products in global markets contributed to a year-over-year sales increase of 517.4 billion won, and its operating profit more than doubled, rising by 230 billion won compared to last year.
In the fourth quarter, Samsung Biologics achieved its highest-ever quarterly consolidated sales of 1.256 trillion won, marking a 17 percent increase from the same period last year. Operating profit for the quarter totaled 325.7 billion won, reflecting a 7 percent decrease.
Standalone revenue for the fourth quarter increased by 15 percent year-on-year to 950.4 billion won, supported by full-capacity operations at Plants 1 to 3 and higher sales from the fourth plant.
However, standalone operating profit fell by 6 percent to 314.7 billion won due to investments in enhancing its contract development and manufacturing organization capabilities.
Samsung Bioepis saw a 38 percent year-on-year increase in fourth-quarter revenue, reaching 397.4 billion won, driven by stronger biosimilar product sales. Its operating profit, however, declined by 8 percent to 72.3 billion won due to higher R&D expenses aimed at securing future growth.
Looking ahead, Samsung Biologics projects a 20 to 25 percent increase in sales for 2025, forecasting a total of 5.57 trillion won in revenue.
As of the end of 2024, the company reported consolidated assets of 17.33 trillion won, equity of 10.90 trillion won and liabilities of 6.43 trillion won. Its debt-to-equity ratio stood at 59 percent, with a borrowing ratio of 12.3 percent, indicating a stable financial position.