News

TitleCaregen Reports 4Q and FY2020 Results2021-02-10 11:49
Writer Level 10

 


Caregen Reports Fourth Quarter and FY2020 Results

 

Peptide bio company Caregen (CEO YJ Chung) announced its tentative results for the fourth quarter of 2020 and annual consolidated results on the 10th. Despite the impact of the Corona 19 pandemic, it recorded solid sales growth and high margins.

 

Consolidated revenue in the fourth quarter increased 19% QoQ to KRW 17.5 billion, and consolidated operating profit increased 19% QoQ to KRW 9.5 billion. Net income was KRW 10.7 billion, up 65% QoQ due to a decrease in corporate tax.

 

Annual revenue for the 2020 fiscal year were 60.3 billion won, down -7% from the previous year, which is a base effect as the four-year carry-over revenues due to accounting re-audit are reflected in 2019. The actual revenue growth rate, which eliminated carryover revenues, reached 19% thanks to the rapid global growth of hair fillers. The annual operating profit was 32 billion won and the annual net income was 31.4 billion won, with the operating profit margin and net profit margin of 53% and 52%, respectively.

 

YJ Chung, CEO of Caregen, said, "It was a year that achieved meaningful growth by focusing on the development of antiviral products in the midst of the Corona 19 crisis, while maintaining high profitability thanks to the strong existing business." We will continue to challenge ourselves to expand the platform based on peptide technology through research and development of health functional foods and pharmaceuticals, and grow together with our customers and partners.”

 

 

(in million Won)

4Q19

3Q20

4Q20

YoY

QoQ

FY2020

YoY

Revenue

20,933

14,718

17,509

-16.4%

18.9%

60,295

-6.8%

Gross Profit

17,656

11,818

13,816

-21.7%

16.9%

48,644

-9.4%

Gross Margin

84.3%

80.3%

78.9%

-5.4%p

-1.4%p

80.7%

-2.3%p

Operating Profit

14,470

7,965

9,456

-34.7%

18.7%

31,978

-9.6%

Operating Margin

69.1%

54.1%

54.0%

-15.1%p

-0.1%p

53.0%

-1.7%p

Net Profit

5,207

6,488

10,726

106.0%

65.3%

31,449

12.2%

Net Margin

24.9%

44.1%

61.3%

36.4%p

17.2%p

52.2%

-8.9%p