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BackCelltrion aims to achieve operating profit of more than 600 billion won in the fourth quarter
Celltrion aims to achieve operating profit of more than 600 billion won in the fourth quarter
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연합뉴스1 hour agoBusiness2 min readSouth KoreaView original

Celltrion aims to achieve operating profit of more than 600 billion won in the fourth quarter

CelltrionSeo Jeong-jinoperating profit

Quick Look

  • Celltrion aims to achieve an operating profit of more than 600 billion won in the fourth quarter, and Chairman Seo Jeong-jin announced that he plans to visit major markets around the world starting in mid-October to conduct on-site inspections and encourage sales activities in each country.
  • He also emphasized that he will continue the policy of developing new drugs, streamlining the R&D budget, reducing manufacturing costs, improving productivity, and returning to shareholders.

AI-generated summary

Why It Matters

Celltrion presented quarterly operating profit targets to shareholders at the beginning of the year and announced that it had achieved KRW 300 billion in the first quarter, KRW 400 billion in the second quarter, and KRW 500 billion in the third quarter without a hitch.

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Chairman Seo Jeong-jin encourages on-site inspection and sales activities in each country

(Seoul = Yonhap News) Reporter Shin Seon-mi = Celltrion [068270] announced on the 19th that it will achieve an operating profit of more than 600 billion won in the fourth quarter of this year.

Celltrion announced on its website that day, "We have achieved the operating profit targets of KRW 300 billion in the first quarter, KRW 400 billion in the second quarter, and KRW 500 billion in the third quarter, which we presented to shareholders at the beginning of the year, without any setbacks in each quarter. We are concentrating all of our capabilities to fully fulfill this year's promise by achieving an operating profit of over KRW 600 billion in the fourth quarter as well."

He added, "Chairman Seo Jeong-jin plans to visit major markets around the world starting in mid-October and do his best to conduct on-site inspections and encourage sales activities in each country based on his strong will to achieve the fourth quarter operating profit target and keep his promise to shareholders."

Celltrion said that Chairman Seo reviewed the sales status and performance forecast in Uzbekistan with 80 overseas subsidiary officials and head office executives early this month and determined that there would be no difficulty in achieving the current fourth quarter operating profit target.

Celltrion also emphasized, "We will continue our efforts to increase corporate competitiveness, including the development of new drugs, efficient execution of research and development (R&D) budgets, reduction of manufacturing costs, and improvement of productivity."

In addition, the company announced that it will continue its shareholder return policy.

Celltrion said, "Based on the basic principle of returning one-third of the net profit to shareholders through cash dividends or cancellation of treasury stock, we will gather the opinions of shareholders to come up with the most reasonable plan."

What to Watch

AI outlook — possibilities, not facts

  • Celltrion will achieve operating profit of more than 600 billion won in the fourth quarter

    Likely · Within months

  • Celltrion will return one-third of its net profit in the form of cash dividends or treasury stock cancellation through its shareholder return policy.

    Likely · Within months

Open Questions

  • What is Chairman Seo Jeong-jin's specific overseas visit schedule and list of countries?
  • What is the specific sales strategy to achieve 600 billion won in operating profit in the fourth quarter?
  • How will the specific dividend rate or size of the shareholder return policy be determined?

Related Topics

Celltrion
PeopleSeo Jeong-jin
PlacesUzbekistan
TopicsSeo Jeong-jinoperating profit4th quarterOn-site inspectionsales activitiesShareholder return
This article was originally published by 연합뉴스.

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