GC Biopharma Reports Q2 2022 Results

YONGIN, South Korea--(BUSINESS WIRE)--GC Biopharma (formerly known as Green Cross Corporation) (KRX: 006280), a South Korean biopharmaceutical company, today announced unaudited consolidated financial results for the three months ended 30 June 2022.

Second-Quarter Reported Results

Key Figures	Q2 2022	Growth^(1)
Total revenues	KRW 423.2 billion	9.2%
Operating Income	KRW 13.1 billion	18.0%
Net Income	KRW 10.9 billion	45.3%
^(1) Results and percentages compare to Q2 2021

Financial Highlights

• Delivered total revenue growth of 9.2% KRW 423.2 billion (Q2 2021: 387.6 billion), and operating profit increased 18.0% to KRW 13.1 billion (Q2 2021: 11.1 billion) in the second quarter
• Unconsolidated revenues growth of +9.7% driven by strong performance of Vx and Protein businesses international sales
• Maintain double-digit growth in consolidated subsidiaries, including GC Cell(+90.9% YoY) and GC WB(+15.0% YoY), except GC MS(-57.9% YoY)
• International Protein and Vx sales growth of 62.4% and 11.2% respectively. In particular, Flu Vx sales recorded the highest performance with improved performance notably in Southern Hemisphere
• Continue to expect strong growth from local/international business across all segments in second half of the year
• Gross profit margin growth of 3.4%p due to product-mix optimization

About GC Biopharma

GC Biopharma (formerly known as Green Cross Corporation) is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in Yongin, South Korea, GC Biopharma is one of the leading plasma protein and vaccine product manufacturers globally and has been dedicated to quality healthcare solutions for more than half a century.

This press release may contain forward-looking statements, which express the current beliefs and expectations of GC Biopharma's management. Such statements do not represent any guarantee by GC Biopharma or its management of future performance and involve known and unknown risks, uncertainties and other factors. GC Biopharma undertakes no obligation to update or revise any forward-looking statement contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule.