Sales-Operating Profit, Boryeong-International-Shinshin-Jinyang Sharp…Net Profit, International Profit-Shinshin-Jinyang
Domestic pharmaceutical companies implemented economies of scale last year.
In general, sales of Chong Kun Dang Holdings, Boryung, Samjin, Kukje, Shinshin, Jinyang, and Withers Pharmaceuticals, which disclosed last year’s performance to the Financial Supervisory Service on the 6th, recorded an upward trend.
However, only the holding company, Chong Kun Dang Holdings, saw a slowdown in sales, while the other five pharmaceutical companies showed high growth. In terms of operating profit, Boryeong and Jinyang vomited their spirits on high growth, while Kukje and Shinshin escaped losses. However, Chong Kun Dang Holdings turned out to be a loss.
In terms of net profit, Kukje and Shinshin turned black, and Jinyang Pharm also recorded high growth.
From a company Chong Kun Dang’s holdingswas 909 billion won, -2% from the previous year’s 926 billion won, and turned into a shortfall in operating profit and net profit. This can be attributed to a decrease in gross profit due to an increase in selling costs due to an increase in raw material prices, and a decrease in operating profit due to an increase in SG&A expenses such as advertising costs and commissions paid.
Boryung Pharmaceuticalrecorded sales of 760.5 billion won, an increase of 21% from 627.3 billion won in the previous year. Operating profit was KRW 56.6 billion, up 37% from KRW 41.4 billion the previous year, and net profit was KRW 40.9 billion, down 5% from KRW 43.1 billion the previous year. Sales and operating profit increased thanks to solid growth focused on prescription drugs and strong business across all sectors, including over-the-counter drugs and shipments.
Samjin PharmaceuticalSilver sales increased 10% to KRW 274.2 billion from KRW 250.1 billion the previous year. Operating profit was 23.4 billion won, down 31% from 33.9 billion won the previous year, and net profit was 22.3 billion won, down 22% from 28.4 billion won the previous year. The increase in cost of sales, such as an increase in depreciation due to increased investment in facilities, and the increase in SG&A due to business diversification, such as health functional foods, affected the performance.
Kukje PharmaceuticalSilver sales increased 6% to KRW 126.6 billion from KRW 119.7 billion in the previous year. Operating profit was 5.3 billion won, compared to -1.7 billion won in the previous year, and net profit was 3.5 billion won, compared to -1.6 billion won in the previous year. This was due to increased sales of respiratory products, anti-inflammatory drugs, and antibiotics, which turned the company into a surplus.
Sinshin Pharmaceuticalrecorded sales of 91.9 billion won, up 24% from 74 billion won the previous year. Operating profit was 5.4 billion won, compared to -1.3 billion won the previous year, and net profit turned black was 4.4 billion won, compared to -1.4 billion won the previous year. This resulted in solid growth in large items, increased sales through diversification of delivery items, and a better profit and loss structure due to the stabilization of the operation of the new Sejong factory.
Jinyang Pharmaceuticalachieved sales of 76.3 billion won, up 21% from 62.8 billion won the previous year. Operating profit was KRW 11.1 billion, up 59% from KRW 7 billion the previous year. Net income was KRW 12.3 billion, up 29% from KRW 9.5 billion in the previous year. Sales and operating profit increased thanks to increased sales of prescription drugs.
Withers PharmaceuticalsRecorded sales earned 64.7 billion dollars, up 13% from 57.4 billion earned the previous year. Operating profit was 4.9 billion won, the same as the 4.9 billion won the previous year. Net profit was 2.3 billion won, down 47% from 4.3 billion won the previous year. It was affected by an increase in costs following the change in the business structure, increased research and development costs, and valuation losses on investments at stake.
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