Samsung Biologics Reports Strong SecondQuarter 2021 Financial Results

Samsung Biologics Names John Rim as President and CEO

Samsung Biologics , a leading contract development and manufacturing organization, announced strong financial results for the secondquarter of fiscal 2021.

John Rim, CEO of Samsung Biologics, stated, “The second-quarter financial performance demonstrates our ability to maintain steady operations despite the global supply disruptions brought on by the pandemic and our commitment to delivering life-saving treatments to patients withinan expedited timeline. Recently, we announced our expansion plans in mRNA vaccine manufacturing, in line with our three-dimensional growth planslaid out earlier on in the year.Construction and presales of our Plant 4 are on track, and we will take on new initiativesas we continue our strong momentum across our business portfolio and growth plans.”

SECOND QUARTER2021 RESULTS

Secondquarter 2021 revenue was KRW 412.2 billion, an increase of 34% from KRW 307.7 billion reported for the second quarter in the previous year, attributable toincreased utilization of Plant 3 and sales activities bringing innew contracts, including COVID-19 products.

Secondquarter 2021 operating profit was KRW 166.8 billion, 105.7% higher than the prior-year period leveraging strong top-line growth.

Secondquarter 2021 net profit reached KRW 121.5 billion, an increase of KRW 69.5 billion from KRW 52 billion in the second quarter a year ago, and second quarter 2021 operating margin was at a record-high 40.5% due to increased utilization across all plants and product mix, including fast-turnaround COVID-19 treatments.

The annual revenue is expected to remain steady at the mid-20% range amid full operations at Plants 1 and 2, and near-full operations at Plant 3. The high utilization rate is also expected to drive an increase in theannual operating profit.

The company signed a contract with Moderna in May this year to provide fill-finish manufacturing of its COVID-19 vaccine and announced a plan to add an mRNA vaccine drug substance manufacturing facility to expand its portfolio of services.

The construction of plant 4 remains on track and active discussions are taking place with clients regarding potential projects. It is expected to be partially operational by the end of 2022 and fully GMP-ready in 2023.The San Francisco R&D Center is also fully equipped for high-quality cell line development in support ofclient pipelines in close proximity tothe U.S. market.

Samsung Biologics has maintained stable business operations with no disruption caused by the pandemicand is currently able to continue as planned with key strategic growth projects and long-term investments.

For more details on performance and financials, please refer to the Earnings Release.

About Samsung Biologics Co., Ltd.
Samsung Biologics 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 is uniquely able to support the development and manufacturing of biologics products at every stage of the process while meeting the evolving needs of biopharmaceutical companies worldwide.