Caregen
Reports First Quarter 2021 Financial Results
Caregen (CEO YJ Chung) reported
financial results for the first quarter ended March 31, 2021.
Consolidated
revenue in the first quarter of 2021 rose 8.9% year-on-year to 15.2 billion won
as global sales of facial filler recovered to pre-pandemic levels. Operating profit was 7.7 billion won and net profit was
7.7 billion won, showing an increase of 6.3 percent and 9.5 percent,
respectively. The operating margin was 51% and the net margin was 50%, achieving solid revenue growth and high
profit margin despite the impact of the COVID-19 pandemic.
Outlook is also
positive this year. While stable revenue growth of the existing business is
expected to continue, it will focus on securing growth engines through
diversification of revenue, including entering the health functional food market
and clinical entry of COVID-19 treatments and macular degeneration treatment
within this year.
"As
Caregen enters the domestic market in earnest through the health functional
food business this year, opportunities to expand its business and the value of
peptide platforms are expected to be reconsidered." said YJ Chung, CEO of
Caregen. "We are also actively seeking not only direct entry into the
pharmaceutical business but also monetization of the peptide platform
business."
<First Quarter 2021 Financial Highlights>
(in million
Won)
|
1Q21
|
4Q20
|
1Q20
|
YoY
|
Revenue
|
15,202
|
17,508
|
13,960
|
+8.9%
|
Gross
Profit
|
11,676
|
13,817
|
11,676
|
-
|
Gross Margin
|
76.8%
|
78.9%
|
83.6%
|
-6.8%p
|
Operating
Profit
|
7,746
|
9,456
|
7,287
|
+6.3%
|
Operating Margin
|
51.0%
|
54.0%
|
52.2%
|
-1.2%p
|
Net Profit
|
7,666
|
10,725
|
6,999
|
+9.5%
|
Net Margin
|
50.4%
|
61.3%
|
50.1%
|
+0.3%p
|
|