- Recorded Q4'24 consolidated revenue of KRW 1.26 trillion
- Recorded FY'24 consolidated revenue of KRW 4.55 trillion
- Poised for further growth with expanded capacity and new service offerings
INCHEON, South Korea, Jan. 22, 2025 /PRNewswire/ -- Samsung Biologics (KRX: 207940.KS), a global contract development and manufacturing organization (CDMO), today announced financial results for the fourth quarter and fiscal year 2024.
"2024 has been a year of steady progress for Samsung Biologics as we expanded collaboration with both pharma and biotech companies, supported by our focus on operational and quality excellence," said John Rim, CEO and President of Samsung Biologics. "We have been able to continue delivering on our commitments by investing in capacity, modality, and geographic expansion. We expect another year of growth through the opening of Plant 5, launch of ADC services, and continued investment in innovative technologies and sustainability. These efforts will enable us to better address the evolving needs of our clients at the right time."
FOURTH QUARTER & FISCAL YEAR 2024 RESULTS
In the fourth quarter of 2024, Samsung Biologics achieved a consolidated revenue of KRW 1.26 trillion while operating profit stood at KRW 325.7 billion. This growth was driven by the increased contribution from Plant 4 and full utilization of Plants 1 through 3.
Full-year 2024 consolidated revenue was at KRW 4.55 trillion, a 23% increase from KRW 3.69 trillion in 2023. Operating profit increased by 19%, totaling to KRW 1.32 trillion.
[Consolidated Earnings, KRW billion]
Q4'24 | Q4'23 | YoY Change | FY24 | FY23 | YoY Change | |
Revenue | 1,256.4 | 1,073.5 | +182.9 (+17.0%) | 4,547.3 | 3,694.6 | 852.7 (+23.1%) |
Operating | 325.7 | 350.0 | -24.3 (-6.9%) | 1,320.1 | 1,113.7 | 206.4 (+18.5%) |
EBITDA | 476.5 | 491.9 | -154 (-3.1%) | 1,919.2 | 1,603.5 | 315.7 (+19.7%) |
On a standalone basis, Samsung Biologics recorded a revenue of KRW 3.50 trillion and an operating profit of KRW 1.32 trillion in 2024. In the fourth quarter of 2024 alone, the company posted a revenue of KRW 950.4 billion and an operating profit of KRW 314.7 billion.
Samsung Biologics has served over 110 clients, including 17 of the worlds' top pharma companies, reinforcing its position as a trusted partner in the biopharmaceutical industry. These partnerships supported the company in surpassing a total contract value of USD 4.3 billion in 2024, contributing to a cumulative contract value of USD 16.3 billion. The company achieved 340 regulatory approvals as of December 2024, underscoring its commitment to quality and operational excellence.
FISCAL YEAR 2025 OUTLOOK
Full Plant 4 operations are expected to drive further revenue growth, while Plant 5 at Bio Campus II, scheduled to begin operations in April 2025, will expand the company's total production capacity to 784,000 liters. The company is also considering the construction of a sixth plant to proactively respond to the growing demand for biologics, which would increase total production capacity to 964,000 liters upon board approval.
The dedicated ADC facility will address the growing need for ADC-based therapeutics by supporting the delivery of next-generation biomedicines. Additionally, the company's innovative platforms S-HiCon, S-Tensify, S-AfuCHO, and S-OptiCharge will offer clients enhanced flexibility, productivity, and quality for successful drug development.
Samsung Biologics plans to further optimize operational efficiency and project timelines by investing in AI and digital transformation to automate systems and facilities. The company is also expanding its drug product (DP) capabilities, with a fully automated pre-filled syringe DP line projected to be CGMP-ready by 2027.
Samsung Biologics continues to actively advance sustainability efforts. As a member of the Sustainable Markets Initiative's Health Systems Task Force, the company is committed to developing practical guidelines for decarbonizing healthcare supply chains in collaboration with global leaders in public and private health sectors. By strengthening partnerships with suppliers and incorporating ESG principles into the value chain, Samsung Biologics aims to drive meaningful progress in its sustainability initiatives.
About Samsung Biologics Co., Ltd.
Samsung Biologics (KRX: 207940.KS) is a fully integrated, end-to-end CDMO service provider, offering seamless development and manufacturing solutions from cell line development to final aseptic fill/finish as well as laboratory testing support for the biopharmaceutical products we manufacture. Our state-of-the-art facilities are CGMP compliant with bioreactors ranging from small to large scales to serve varying client needs. Maximizing operational efficiency and expanding our capabilities in response to growing biomanufacturing demand, Samsung Biologics offers a combined 604 kL total capacity at Bio Campus I. The company launched Bio Campus II with the construction of Plant 5, which will be operational in April 2025, adding 180 kL biomanufacturing capacity. Additionally, Samsung Biologics America enables the company to work in closer proximity to clients based in the U.S. and Europe. We continue to upgrade our capabilities to accommodate our clients by investing in an ADC facility, mRNA technologies, and additional aseptic filling capacity. As a sustainable CDMO partner of choice, we are committed to on-time, in-full delivery of the products we manufacture with our flexible manufacturing services, operational excellence, and proven expertise.
Samsung Biologics Contact
Claire Kim, Head of Global Marketing Communications
[email protected]
SOURCE Samsung Biologics
