Samsung Biologics reports record Q4 2023 revenue

Asia Tech Wire (Jan 24) -- Samsung BioLogics Co., the pharmaceuticals unit of South Korea's largest conglomerate Samsung Group, reported record revenue for the fourth quarter of 2023 on Wednesday.

Samsung BioLogics achieved consolidated revenue of 1.07 trillion won ($798 million) in the fourth quarter of 2023, up 11.2% year-on-year, according to a press release.

"We have achieved another remarkable milestone with our consolidated operating profit surpassing 1 trillion won in the 12 years since our founding in 2011," said John Rim, CEO and President of Samsung Biologics.

For the full-year 2023, the company posted a record-high consolidated operating profit of 1.11 trillion won, up by 13.2% from 983.6 billion won in 2022. And its consolidated revenue reached 3.69 trillion won for 2023, reflecting a 23.1% increase from the previous year.

Samsung BioLogics expects resilient business performance to drive a 10-15% annual growth in revenue for 2024.

(US$1 = 1,340.1308 won)

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