Celltrion’s Q1 sales surpass $512 mn for first time since inception

[Courtesy of Celltrion Inc.]

Celltrion Inc. saw its quarterly revenue surpass 700 billion won ($512 million) for the first time since its inception in the first quarter, thanks to its mainstay biosimilar business.

According to Celltrion on Thursday, its first-quarter revenue stood at 737 billion won, up 23.3 percent from the same period last year.

Solid sales were led by its key biosimilar business, which raised 651.2 billion won in sales in the first quarter.

Celltrion’s operating profit, however, plunged 91.5 percent from a year ago to 15.4 billion won in the first quarter due to temporary factors related to its merger such as a rise in sales cost ratio.

Lotte Department Store also announced its first-quarter earnings on Thursday.

Its operating profit was estimated at 90.3 billion won in the first quarter, down 31.7 percent from the same period last year, according to Lotte Shopping Co.

Sales rose 1.4 percent to 815.6 billion won but operating profit dropped sharply due to increased costs.

Lotte Shopping’s entire sales, in the meantime, fell 1.4 percent in the first quarter to 3.51 trillion won.

Hyundai Department Store Co. saw its sales decrease by 13.3 percent in the first quarter from a year ago to 951.7 billion won.

Its operating profit was down 11.6 percent to 68.9 billion won during the same period.

GS Retail Co., the operator of convenience store chain GS25, achieved steady performance.

Its operating profit surged 16.6 percent to 73.9 billion won in the first quarter from a year ago.

Mirae Asset Securities Co. reported an 8.5 percent decrease in sales at 6.28 trillion won compared to the same period last year. Operating income decreased 4 percent to 270.5 billion won. Net income was 170.5 billion won and shareholders’ equity was 11.3 trillion won, according to the company.

SK biopharmaceuticals Co. posted sales of 114 billion won and operating profit of 10.3 billion won in the first quarter. The company posted a profit for two consecutive quarters for the first time since its inception, thanks to sales growth of its epilepsy drug cenobamate (Xcopri).

In the United States alone, sales of cenobamate reached 90.9 billion won, up 68.5 percent from the same period last year.

Lotte Chemical Corp. announced that its first quarter sales were 5.09 trillion won, up 0.9 percent, with an operating loss of 135.3 billion won, widening from 5.3 billion won in the first quarter last year.

LG Corp. reported sales of 1.62 trillion won and operating profit of 422.6 billion won in the first quarter. Sales decreased by 2 percent and operating profit decreased by 16 percent compared to the same period last year. Net income totaled 368.36 billion won, down 21 percent.