GC Pharma Reports Full Year 2018 Results
Delivers Continued Momentum in 2018 Through Broadly-based Sales Growth
YONGIN, South Korea, Feb. 12, 2019 /PRNewswire/ -- GC Pharma (formerly known as Green Cross Corporation) (KRX: 006280), a South Korean biopharmaceutical company, today announced unaudited results for the year ended 31 December 2018.
Full Year 2018(KRW billion)
(1) Results and percentages to the full financial year 2017
- Total revenues of KRW 346.7B and +6.3% YoY growth
- Meaningful Q4 local sales of KRW 230.8B and +8.5% YoY growth and international sales reaching KRW 66.6B
- Diversified business model moderates negative effects from anticipated decline in in-licensed vaccines sales
- Anticipated decline in operating profit amplified by year-round high cost of sales
- Total revenues of KRW 1,334.9B and +3.6% YoY growth
- International businesses(+10.1% YoY growth) deliver another year of solid growth while local sales up slightly
- EBITDA margin impacted by cost of sales to revenue ratio up +2.6pps to 74.1% due to ahead investments in global expansion plus upping R&D +12.3%
EC Huh, Ph.D., GC Pharma President, commented:
"Our business focus remains on creating significant value for shareholders and other stakeholders. We further strengthened our future opportunities in 2019 and expect to generate solid growth."
About GC Pharma
GC Pharma (formerly known as Green Cross Corporation) is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in South Korea, GC Pharma is the largest plasma protein product manufacturer in Asia and has been dedicated to quality healthcare solutions more than half a century. Green Cross Corporation updates its corporate brand as GC Pharma in early 2018. Green Cross Corporation remains the company's registered, legal name.
This release includes forward-looking statements, which express the current beliefs and expectations of GC Pharma's management. Such statements speak only as of the date on which they are made and the company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE GC Pharma