L&C BIO (290650) Q4 2024 earnings summary

Executive summary

• Achieved consolidated revenue of KRW 72.1 billion in FY2024, up 9.4% year-over-year, with operating income of KRW 2.5 billion and net income of KRW 141.0 billion, driven by a one-time gain from fair value revaluation of a Chinese subsidiary.

• Main business areas include human tissue allografts, tissue-based medical devices, cosmeceuticals, and clinical research services, with a strong domestic market position and expanding global presence.

• Significant R&D investment continues, with a focus on expanding indications for flagship products and developing next-generation regenerative medical devices.

Financial highlights

• Consolidated revenue: KRW 72.1 billion in 2024 (up 9.4% YoY); operating income: KRW 2.5 billion (down 68.7% YoY); net income: KRW 141.0 billion (up 190.5% YoY, mainly due to a one-off gain).

• Gross profit margin: 50.4% in 2024, slightly down from 51.4% in 2023.

• Basic EPS: KRW 6,218 in 2024, up from KRW 2,132 in 2023.

• Cash and cash equivalents at year-end: KRW 18.3 billion.

• Total assets: KRW 475.6 billion; total liabilities: KRW 180.9 billion; equity: KRW 294.7 billion.

Outlook and guidance

• Anticipates accelerated global expansion, especially in China, with new product launches and regulatory approvals expected to drive growth.

• Continued focus on R&D and pipeline expansion in regenerative medicine and medical devices.

• Plans to leverage recent acquisitions and partnerships to enhance operational efficiency and market reach.