Celltrion reports strong Q3 earnings growth

[Courtesy of Celltrion]

Celltrion, a South Korean biopharmaceutical company listed on the Kospi, announced robust third-quarter financial results on Tuesday, with a preliminary operating profit of 267.6 billion won ($205 million), up by 25.2 percent compared to a year earlier.

The company’s revenue also saw positive growth for the July-September 2023 period, reaching 672.3 billion won, up 4.13 percent from the previous year. Net profit amounted to 221.2 billion won, up 32.58 percent.

In contrast, Celltrion’s subsidiary Celltrion Healthcare listed on the Kosdaq reported a preliminary third-quarter operating profit of 50.5 billion won, down 30.35 percent from the same quarter in 2022.

Revenue for the quarter grew 30.45 percent on year to 647.6 billion won, but net profit contracted to 44.8 billion won, down by 67.44 percent.