Pharmicell (005690) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue was KRW 112,639 million, operating income KRW 38,240 million and net income KRW 30,373 million; each exceeded the 9M 2025 amount.

• Bio-chemical sales accounted for KRW 110,017 million of 9M revenue; bio-medical sales were KRW 2,621 million.

• Interim financial statements are separate, K-IFRS statements and were not reviewed by the external auditor.

Financial highlights

• Q3 revenue was KRW 36,966 million vs KRW 25,647 million YoY; operating income was KRW 11,933 million vs KRW 8,141 million.

• Q3 net income was KRW 8,288 million vs KRW 8,776 million YoY; 9M net income was KRW 30,373 million vs KRW 24,617 million.

• 9M gross profit was KRW 51,031 million vs KRW 36,300 million; selling, general and administrative expenses were KRW 12,791 million vs KRW 11,614 million.

• 9M operating cash flow was KRW 31,486 million vs KRW 23,785 million; investing cash outflow was KRW 54,504 million vs KRW 18,812 million.

Outlook and guidance

• A KRW 37,500 million Ul-san Plant 3 investment is underway through Jan. 31, 2027, to meet large-scale demand for AI advanced-industry materials and pharmaceutical raw materials.

• Management identifies continued demand growth for AI-related electronic materials, nucleosides and pharmaceutical PEG, including PEG use in lipid nanoparticle drug delivery systems.

• Cellgram-LC remains in Phase 3 in Korea; an advanced regenerative medicine treatment plan was resubmitted in April 2026 and awaits review.