Samsung Epis Holdings (0126Z0) Q3 2026 earnings summary

Executive summary

• Q3 revenue was KRW441,914m and operating income KRW105,093m; nine-month revenue was KRW1,287,701m and operating income KRW254,379m.

• Biosimilar operating results grew YoY and QoQ; non-cash accounting adjustments reduced consolidated operating profit.

• 2026 revenue and operating profit are expected to exceed prior-year levels, with operating margin above 20%.

• Bio-investment holding structure with three subsidiaries; consolidated operations comprise one reportable biopharmaceutical development and commercialization segment.

Financial highlights

• Q3 net income was KRW96,259m; nine-month net income was KRW281,529m, including a KRW64,540m income tax benefit, and basic EPS was KRW11,335.

• Q3 biosimilar revenue was KRW442B, up 0.3% YoY and 13% QoQ; operating profit was KRW133B, up 3% YoY and 53% QoQ.

• Nine-month biosimilar revenue was KRW1,289B, up 4% YoY, and operating profit was KRW363B, up 5% YoY.

• Nine-month R&D expense after government grants was KRW171.8bn, or 13.3% of revenue.

Outlook and guidance

• 2026 revenue and operating profit are expected to exceed prior-year levels, with operating margin above 20%; strategic aims include No. 1 EU and No. 2 U.S. market share in the near term.

• Targeting 10+ biosimilar products in development by 2030 and at least one ADC candidate IND submission annually from 2027.

• SB27 completed Phase 1 and Phase 3 primary endpoints with reported PK and efficacy equivalence; Korean filing was under review and a U.S. application was filed in Oct. 2026.

• Development priorities include ADC candidates SBE303 and SBE313, long-acting semaglutide candidate SBE501, and pipeline programs with G2GBIO and Proteina.