Samsung Biologics revenue reaches 1,490.3 billion won as it raises annual growth forecast

Key Facts

Samsung Biologics reported revenue of 1,490.3 billion won in the third quarter of 2026, while raising its annual revenue growth forecast. The company compared the figure with revenue of 1,257.5 billion won in the corresponding period of 2025, according to its earnings announcement. Revenue rose by 232.8 billion won year on year, supported by continued operations at its plants and contributions from its acquired U.S. facility. The company raised its revenue growth forecast for 2026 to 20%, having previously projected growth in a range of 15% to 20%. The new forecast therefore stands at the upper end of the previous range, while the increase in operating profit was smaller than the rise in revenue.

Samsung Biologics posted third-quarter operating profit of 640.1 billion won, according to detailed figures published in its earnings announcement. Operating profit in the corresponding quarter a year earlier was 633.5 billion won, limiting the annual increase to 6.6 billion won. Earnings before interest, taxes, depreciation and amortization reached 751.5 billion won during the same period. That measure stood at 728.9 billion won in the corresponding period, an annual increase of 22.6 billion won. By comparison, revenue in the second quarter of 2026 was 1,320.9 billion won and operating profit was 586.4 billion won. Earnings before interest, taxes, depreciation and amortization in the previous quarter were 698.5 billion won, meaning all the financial measures cited rose quarter on quarter.

The company attributed its business growth to continued operations at full capacity at plants 1 to 4, alongside the ramp-up of plant 5. It added that revenue recognition from the Rockville facility in the United States had begun contributing to business growth following its acquisition in March. On contracts, cumulative contract value exceeded $21.9 billion at the time of the third-quarter earnings announcement, according to Samsung Biologics' statement. Cumulative value had reached $21.6 billion at the previous quarter's earnings announcement before rising to the newly announced level. The cumulative number of contract manufacturing agreements reached 117, while the number of contract development agreements stood at 184, according to the announcement.

Alongside operations at its U.S. Rockville facility, Samsung Biologics announced the opening of a sales office in the Netherlands to strengthen its commercial presence in Europe. The company is also considering an expansion that would increase its global manufacturing capacity to 1,385,000 liters by 2032, under a plan announced in August 2026. In the same month, it announced a plan to raise capital through a rights issue, with expected proceeds of 3 trillion won. On its balance sheet, the liabilities-to-equity ratio stood at 45.8% at the end of the third quarter, according to the company's Korean-language announcement. The company also reported a borrowing ratio of 9.2% at the end of the same period as it continued its manufacturing and commercial expansion plans.

Samsung Biologics' planned expansion includes acquiring PolyPeptide and adding peptide-based therapeutics to its services. The company said in its earnings announcement that "the planned acquisition will expand Samsung Biologics' service portfolio to include peptide-based therapeutics." In a separate announcement published on 16 October 2026, the company reported the final interim results of its takeover offer for PolyPeptide. Those results showed that 87.59% of PolyPeptide's registered shares had been validly tendered into the offer, according to the acquisition announcement. Completion of the proposed transaction remains subject to the offer conditions being met, under the timetable Samsung Biologics announced for the transaction.

The additional acceptance period for the PolyPeptide offer began on 19 October 2026, according to the timetable Samsung Biologics published with the final interim results. The period is scheduled to run until 30 October 2026 as part of the next steps in the planned acquisition. The announced financing timetable then set 9 and 10 November 2026 as the subscription dates for existing shareholders in the rights issue. The company expects the PolyPeptide acquisition to close around the end of 2026 or during the first quarter of 2027. Samsung Biologics linked both potential closing windows to the offer conditions being met, while the announced subscription dates precede both windows.