January 25, 2022 -- Samsung Biologics reported strong financial results for the fourth quarter and record high earnings for the 2021 fiscal year, achieving fourth quarter revenue of 444.3 billion South Korean won ($37 million U.S.), an increase of 18% from 375.3 billion South Korean won ($31 billion U.S.) reported for the fourth quarter last year.
The company's fourth quarter 2021 operating profit was 128.8 billion South Korean won ($11 million U.S.), which was 39% higher than the prior year period. Meanwhile, the company's fourth quarter 2021 net profit reached 79.3 billion South Korean won ($66 million U.S.), a decrease of 16.9 billion South Korean won ($14.1 million U.S.) from 96.2 billion South Korean won ($77 million U.S.) in the fourth quarter a year ago. The fourth quarter 2021 operating margin was 29% due to increased utilization across all plants and improved product mix, Samsung said.
Samsung Biologics demonstrated strong operational and business agility in 2021 with its three manufacturing plants in stable operations, the firm said. With its mRNA business, it signed strategic partnership agreements with Moderna for fill and finish and Greenlight Biosciences for the manufacturing of mRNA vaccines. Samsung Biologics also launched its newest contract development organization process platform, S-Cellerate, for the development and commercialization of monoclonal antibodies.