Samsung Biologics Reports Fourth Quarter and Full Year 2021 Financial Results

  • Q4’21 revenue of KRW 444.3 billion increased by 18% compared to Q4’20.
  • Q4’21 operating profit of KRW 128.8 billion increased by 39% compared to Q4’20.
  • 2021 turnover of KRW 1,568.0 billion, an increase of 35% compared to FY’20.
  • FY’21 operating result of KRW 537.3 billion, an 84% increase from FY’20.
  • Stable business operations and improved utilization rates in Plants 1, 2 and 3.
  • The 2022 financial outlook includes proactive investments in future growth engines for sustainable growth.

INCHEON, South Korea, January 24, 2022 /PRNewswire/ — Samsung Biologics (KRX: 207940.KS), the world’s leading contract development and manufacturing organization, today announced strong fourth quarter financial results and record earnings for fiscal year 2021.

John Rim, CEO of Samsung Biologics, said, “With a surge in drug demand due to the protracted COVID-19 pandemic, there was a great need for CDMO capabilities around the world to ensure a reliable supply of biologics. High quality. Successfully managing the full potential impact of the pandemic with strong business continuity and operational excellence, Samsung Biologics achieved solid growth and increased sales in an extraordinary year and made significant progress in creating a dynamic around our activities and our long-term capacities. demonstrates our ability to execute a robust and resilient approach to maintaining business continuity while adapting at all levels to the needs of our customers and partners. ‘future growth. As we look towards 2022, we remain fully committed to providing high-quality, life-saving treatments for our patients and patients around the world. »

FOURTH QUARTER AND FULL YEAR 2021 RESULTS

Fourth quarter 2021 revenue is KRW 444.3 billion, an 18% increase over KRW 375.3 billion reported for the fourth quarter of the prior year, attributable to increased utilization of Plants 1 and 3 and sales activities bringing in new contracts.

The operating result for the fourth quarter of 2021 was KRW 128.8 billion, 39% more than the same period of the previous year, thanks to a steady growth in sales.

Net income for the fourth quarter of 2021 achieved KRW 79.3 billion, a decrease of KRW 16.9 billion from KRW 96.2 billion in the fourth quarter a year ago, and fourth quarter 2021 operating margin was 29% due to higher utilization across all plants and an improved product mix.

Samsung Biologics demonstrated excellent operational excellence and business agility in 2021 with Plants 1, 2, and 3 in stable operations, and established a solid business foundation for mRNA by signing strategic partnership agreements with Moderna for filling and finishing and Greenlight Biosciences for manufacturing mRNA vaccines. Samsung Biologics also launched its brand new CDO process platform, S-CellerateMT, which offers an accelerated process for the development and commercialization of monoclonal antibodies.

[KRW billion]


Q4’21

Q4’20

Annual change

EX 21

EX 20

Revenue

444.3

375.3

+18%

1,568

1,164.8

Operating profit

128.8

92.6

+39%

537.3

292.8

EBIT

109.2

76.7

+42%

561.3

266.0

Net revenue

79.3

96.2

-17.5%

393.6

241.0

OUTLOOK FOR FISCAL YEAR 2022

At the JP Morgan Healthcare conference, the company discussed the three pillars of its multifaceted growth plan, which includes increasing manufacturing capacity, improving portfolio diversification and expanding facilities at the foreigner.

In addition to steadily securing pre-sales from customers, construction of Plant 4 is expected to be completed six months ahead of schedule, commencing operations to support production capacity of 10KL in Q4 2022 and 15KL by the end of the year. mid-2023. Upon full completion, the company is expected to hold a total of 620 KL of capacity, reaffirming its position as the largest CDMO in the world.

As part of its growth plan, Samsung Biologics plans to begin construction of a new facility, Plant 5 in 2022, where it will offer multimodal product services, including cell and gene therapies and next-generation vaccines. using mRNA, pDNA and viral vectors. , all on one site. This is in addition to the mRNA vaccine drug substance (DS) manufacturing suite, which is expected to be ready for cGMP operations at its existing Songdo facility early this year.

The company is further venturing into securing additional land in Songdo for the construction of future factories and an open innovation center, as well as overseas in multiple locations to maximize both its capacity to produce biologics on a large scale and be closer to its global network. customers, further expanding its global footprint beyond its San Francisco R&D center.

With the growing importance of sustainability, Samsung Biologics will continue to prioritize its ESG commitments through continuous improvement in reducing operational GHG emissions and participating in various climate change initiatives, including the sustainable markets with a view to COP27.

For more details on performance and financials, please refer to the Publication of results.

About Samsung Biologics Co., Ltd.

Samsung Biologics (KRX: 207940.KS) is a fully integrated CDMO offering state-of-the-art contract development, manufacturing and laboratory testing services. With proven regulatory approvals, the largest capacity, and the fastest throughput, Samsung Biologics is an award-winning partner of choice and uniquely able to support the development and manufacturing of biologics every step of the way while meeting the needs evolving biopharmaceuticals. companies around the world. For more information, visit samsungbiologics.com.

Contact Samsung Biologics
Claire Kim
Senior Director, Global Marketing Communications
[email protected]

SOURCESamsung Biologics

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