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    A096530   KR7096530001

SEEGENE, INC.

(A096530)
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Seegene : reports solid results in the first quarter of 2021 with KRW 351.8 billion

05/11/2021 | 09:19pm EDT
  • SEEGENE POSTS KRW 193.9 BIL. IN OPERATING PROFIT, UP 388% ON-YEAR
  • OPERATING PROFIT RATIO AT 55%, DESPITE CONSTANT INVESTMENT IN R&D AND EMPLOYEES

SEOUL, South Korea, May 11, 2021 /CNW/ -- Seegene Inc. (KQ 096530), a molecular diagnostics company reported its financial results for the first quarter of 2021, with reports showing robust earnings. The biotechnology firm posted KRW 351.8 billion in consolidated revenue, a 330% increase compared to the same period last year and a record for the first quarter. Operating profit at KRW 193.9 billion, also up 388% on-year, reflecting steady growth in its sales of diagnostic tests.

Seegene's Senior Managing Director of IR and PR Department Myungkun Kim said "the company was able to manage 55% of annual operating profit ratio, a clear reflection of its ability to effectively manage the firm despite the constant investment in R&D and expansion of manpower." He added that "once investments come to fruition, the operating profit ratio will likely surge even further."

Kim added "Seegene's thriving performance had been backed with continuous surge in demand for variant diagnostic tests and as more governments around the world are reeling back to normalcy with mass examinations at schools and workplaces." He said the company is expected to see additional surge in sales through entering new markets as well as launching new products and technologies. Kim added that "although the second quarter is predicted to show comparable sales volume to that of the first quarter, due to a delay in supply deals being reflected onto actual sales figures, the latter half of the year however looks even more promising."

Seegene had previously secured public procurement for COVID-19 diagnostic tests in Italy worth over EUR 89.3 million, a separate public tender agreement in Scotland worth 16,209,150 GBP and a supply deal in Germany worth EUR 19.3 million.

Cision
View original content to download multimedia:http://www.prnewswire.com/news-releases/seegene-reports-solid-results-in-the-first-quarter-of-2021-with-krw-351-8-billion-301289300.html

SOURCE Seegene Inc.

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2021 1 244 B 1,05 B 1,05 B
Net income 2021 486 B 0,41 B 0,41 B
Net Debt 2021 - - -
P/E ratio 2021 7,11x
Yield 2021 5,67%
Capitalization 3 429 B 2 903 M 2 908 M
Capi. / Sales 2021 2,76x
Capi. / Sales 2022 4,80x
Nbr of Employees 833
Free-Float 67,9%
Chart SEEGENE, INC.
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Seegene, Inc. Technical Analysis Chart | A096530 | KR7096530001 | MarketScreener
Technical analysis trends SEEGENE, INC.
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 66 200,00 KRW
Average target price 89 000,00 KRW
Spread / Average Target 34,4%
EPS Revisions
Managers and Directors
Jong-Yoon Chun Chief Executive Officer & Director
Jung-Yong Kim Director & Head-Finance
Hong-Il Yoon Independent Director
Chang-Se Lee Independent Director
Kyung-Jun Chun Director
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