Samsung Biologics (207940) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached KRW 1,257.1 billion, with operating profit of KRW 580.8 billion and net profit of KRW 469.2 billion, reflecting strong CDMO segment performance.

• Achieved 26% year-over-year revenue growth and 35% higher operating profit, marking 27 consecutive quarters of YoY growth.

• Major expansion included the acquisition of Human Genome Sciences, Inc., increasing total production capacity to 845,000 liters and strengthening the U.S. manufacturing base.

• Completed spin-off of biosimilar business in November 2025, focusing on pure-play CDMO operations.

• Secured new CMO and CDO projects, surpassing 440 cumulative CMO product approvals.

Financial highlights

• Q1 2026 revenue: KRW 1,257.1B, up from KRW 999.5B in Q1 2025 (+26%).

• Operating profit: KRW 580.8B, up from KRW 430B (+35%).

• Net profit: KRW 469.2B, up from KRW 202B (+63.9%).

• EBITDA: KRW 675B, EBITDA margin 53.7% (up 2.2 percentage points YoY).

• Cash and cash equivalents at quarter-end were KRW 520.4B, up from KRW 148.9B at the end of 2025.

Outlook and guidance

• On track to meet annual guidance, supported by full operation of existing plants and Plant 5 ramp-up.

• Forecasted annual revenue growth of 15-20%.

• Plans to expand into mRNA, ADC, and cell/gene therapy manufacturing, with new facilities completed and more planned by 2027.

• Continued investment in research services and end-to-end solutions to drive future growth.