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Photos courtesy of Samsung Biologics |
[Alpha Biz= Kim Sangjin] Samsung Biologics is expected to continue its strong growth this year. Daishin Securities maintained its "Buy" recommendation and target price of 1.3 million KRW for the company.
Daishin Securities stated, "Samsung Biologics recorded its highest-ever performance last year, and continued high growth is expected this year due to the increased utilization of its fourth plant and the launch of new biosimilar products." The cumulative order amount for last year was about 4.3 billion USD (approximately 6.1 trillion KRW), representing a 72% increase compared to 2023 (2.5 billion USD). In January of this year, the company announced a 2 trillion KRW order contract.
Daishin Securities also pointed out that global demand for biopharmaceuticals remains solid, and additional large-scale order announcements and the groundbreaking of the sixth plant are expected within the year.
Regarding the fourth quarter, Daishin noted that Samsung Biologics continued full operation of plants 1-3, saw increased contribution from the fourth plant, benefited from reduced cost ratios due to high exchange rates, and received about 50.4 billion KRW in milestone payments for the Aflibercept biosimilar, leading to strong performance.
For 2025, Daishin Securities forecasts Samsung Biologics' consolidated sales to reach 5.635 trillion KRW (a 23.9% increase from the previous year), with operating profit expected to be 1.5581 trillion KRW (an 18.0% increase), and an operating margin of 27.6%.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
