Samsung Biologics (207940) Q3 2025 earnings summary

Executive summary

• Achieved 40% year-over-year revenue growth in Q3 2025, driven by full utilization of Plant 4 and strong performance across all business segments.

• Operating profit increased by 115% year-over-year, with consolidated revenue at KRW 1,660B and operating profit at KRW 729B (OPM: 43.9%).

• On track to meet full-year guidance, expecting 25–30% revenue growth for 2025.

• Smooth progress on equity spin-off between SBL and SEH, with key regulatory approvals and EGM resolution completed.

Financial highlights

• Biologics segment: Q3 revenue KRW 1,258B (+18% YoY), operating profit KRW 633B (OPM: 50.4%).

• Bioepis segment: Q3 revenue KRW 441B (+34% YoY), operating profit KRW 129B (OPM: 29.3%).

• Cumulative CMO orders exceeded USD 20B since inception; Q3 cumulative orders nearly matched 2024’s full-year total.

• EBITDA margin improved to 54.7% (consolidated) in Q3 2025.

Outlook and guidance

• Full-year 2025 revenue expected to grow 25–30% year-over-year, supported by Plant 4 ramp-up and new orders for Plant 5.

• Continued business expansion with new contracts and biosimilar launches.