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Hanmi Science sails through Q1 with Online Pharm leading the way

Hanmi Science announced in a preliminary disclosure last Thursday that it achieved a consolidated revenue of 353.7 billion won ($240.2 million), an operating profit of 33.6 billion won, and a net...

Hanmi Science sails through Q1 with Online Pharm leading the way

Hanmi Group's corporate identity (Courtesy of Hanmi Science)

Hanmi Science announced in a preliminary disclosure last Thursday that it achieved a consolidated revenue of 353.7 billion won ($240.2 million), an operating profit of 33.6 billion won, and a net profit of 42.3 billion won in the first quarter of this year.

These figures represent increases of 6.5 percent, 24 percent, and 73 percent, respectively, compared to the same period last year.

This performance was driven by its pharmaceutical wholesale division, Online Pharm. Online Pharm recorded sales of 299.8 billion won, up 23.4 billion won year-on-year, driven by domestic sales growth centered on ETC (ethical drugs/prescription drugs).

"Alongside the solid growth of our core business, our overall profit structure has significantly improved due to an increase in equity-method income resulting from the rise in operating profit at Beijing Hanmi Pharmaceutical," a Hanmi Science official said. "Our capabilities as an operating holding company have been proven by the numbers."

The official added, "This first-quarter performance confirms Hanmi Science's potential not only as a group holding company with management capabilities, but also as an operating holding company that directly generates its own revenue and grows. We will continue to enhance shareholder value and pursue sustainable growth by maximizing synergies between affiliates and strengthening our portfolio to cover the entire healthcare spectrum."

Kwon Min-seon

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