Seoul: Celltrion on Tuesday reported its 2024 net profit of 418.9 billion won (US$292.8 million), marking a decline of 22.4 percent from the previous year. The company, a significant player in the biopharmaceutical industry, has faced financial challenges in achieving its profit targets for the year.
According to Yonhap News Agency, Celltrion disclosed in a regulatory filing that its operating profit for 2024 experienced a decrease of 24.5 percent on-year, settling at 492 billion won. Despite the decline in profits, the company saw a substantial increase in its annual revenue, which rose by 63.4 percent, reaching a total of 3.55 trillion won. This indicates that while the company has been successful in generating revenue, its expenses have had a significant impact on the net profit margins.