Samsung Biologics’ strategic business operations continue to support strong third quarter earnings

On October 21, 2020 Samsung Biologics (KRX: 207940.KS) reported that financial results for its fiscal 2020 third quarter ending September 30, demonstrating confident execution of its ongoing business operations (Press release, Samsung BioLogics, OCT 21, 2020, View Source [SID1234568766]).

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The Company recorded strong revenues of KRW 274.6 billion despite the economic impact and slowdown in the global market amid the COVID-19 pandemic. Furthermore, the Company posted an operating profit of a solid KRW 56.5 billion reflecting the Company’s accelerated plans for expansion as part of its long-term strategy. Operating profit margin remained firm at a 20% level, and net income improved to KRW 56.1 billion quarter-on-quarter.

Compared to Q3 of last year, Samsung Biologics improved its revenues by KRW 89.8 billion at 49% as a result of continuous increase in sales volume across all plants. Operating profit increased by KRW 32.9 billion at 139% year-on-year. Gross and operating profit margin rates both improved by 5%p and 8%p respectively.

Samsung Biologics holds a solid financial position with third quarter assets of KRW 6.1 trillion, KRW 4.5 trillion in equity, and KRW 1.6 trillion in liabilities, with a debt ratio of 36.4% and borrowings ratio of 13.2%.

The strong Q3 financial results reaffirm the continuing execution of the Company’s accelerated business strategy, further bolstered by its recent announcements for Plant 4 construction and the opening of its first global expansion with the R&D Center in San Francisco. Both Plant 4, dubbed the "Super Plant" and the new R&D facility are expected to elevate Samsung Biologics’ global competitiveness and client satisfaction to the next level.