Celltrion (068270.KS) said it aims to post at least 600 billion won ($420 million) in operating profit in the fourth quarter of this year.
In a statement posted on its website on the 19th, the company said it had met each of the quarterly operating profit targets it presented to shareholders at the start of the year — 300 billion won in the first quarter, 400 billion won in the second and 500 billion won in the third. "We are concentrating all our capabilities on achieving operating profit of 600 billion won or more in the fourth quarter as well, to fully deliver on this year's commitment," Celltrion said.
The company added that Chairman Seo Jung-jin presided over a meeting in Uzbekistan in early October that brought together about 80 officials from local subsidiaries in major markets worldwide and sales executives from headquarters to review sales performance and earnings outlooks directly. "We believe there will be no significant difficulty in meeting the fourth-quarter operating profit target, despite factors such as the decline in the won's exchange rate," Celltrion said. Seo plans to travel to major markets around the world starting in mid-October to conduct on-site inspections and encourage sales activity.
Celltrion also said it would continue efforts to strengthen its competitiveness, including new drug development, efficient execution of research and development budgets, lower manufacturing costs and higher productivity.
The company said it would also maintain its shareholder return policy. "Based on the basic principle of returning one-third of net profit to shareholders through cash dividends or share buybacks and retirements, we will gather shareholders' views fully and prepare the most reasonable plan," Celltrion said.