Operating Profit Surges 139%
Samsung Biologics posted an operating profit of 56.5 billion won in the third quarter of 2020 on sales of 274.6 billion won, the company announced on Oct. 21.
Compared to the same period of last year, the company's operating profit and sales revenue increased 139 percent and 49 percent, respectively. Operating margin remained firm at a 20 percent level, and net income improved to 56.1 billion won quarter-on-quarter.
The company registered an impressive performance despite the economic impact and slowdown in the global market amid the COVID-19 pandemic.
Sales revenue increased as a result of continuous increase in sales volume across all plants.
Samsung Biologics holds a solid financial position with third quarter assets of 6.1 trillion won, 4.5 trillion won in equity, and 1.6 trillion won in liabilities, and a debt ratio of 36.4 percent and borrowings ratio of 13.2 percent.
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.