[Edaily Reporter NA EUN-KYUNG ] Vaccine specialist EuBiologics Co., Ltd.(206650)announced on the 13th that it recorded sales of 48.9 billion won and operating profit of 10.8 billion won in the first half of this year. Compared to the same period last year, sales and operating profit decreased by 35.5% and 61.7%, respectively.

The decline in first-half performance was influenced by a high base effect from last year and timing differences in revenue recognition due to the cholera vaccine supply schedule. In the first half of last year, revenue and operating profit increased significantly as emergency vaccine supplies were concentrated in response to the global spread of cholera.

The company explained that global demand for cholera vaccines has not actually decreased this year. It noted that medium- to long-term demand for vaccines remains steady, driven not only by emergency response vaccines but also by growing demand for preventive vaccination campaigns in high-risk areas.

Cholera is an acute diarrheal infectious disease caused by infection with the cholera bacterium through contaminated water or food. In severe cases, it can lead to rapid dehydration and shock, making prevention through vaccination crucial in areas where access to safe drinking water and sanitary conditions is limited. Particularly in high-risk regions where cholera outbreaks recur, preventive vaccination campaigns—which supply vaccines ahead of an outbreak—are conducted alongside emergency vaccinations after an outbreak occurs.

EuBiologics Co., Ltd.’s flagship product is the oral cholera vaccine “Euvichol-S.” The company supplies cholera vaccines primarily to the global public health vaccine market.

In fact, through a disclosure regarding a single sales and supply contract in the second quarter of this year, EuBiologics Co., Ltd. secured a supply of cholera vaccines valued at approximately 51.6 billion won. This supply is being delivered sequentially in accordance with the contract and shipment schedule, and the company expects a significant portion of it to be recognized as revenue in the third quarter.

Additional shipments that do not meet the threshold for separate disclosure are also continuing. Accordingly, the company forecasts that revenue will rebound starting in the third quarter due to expanded cholera vaccine shipments, following a decline in first-half performance.

EuBiologics Co., Ltd. is operating its production facilities to meet global demand for cholera vaccines and plans to achieve its originally planned annual production and supply targets for cholera vaccines. In particular, the company plans to focus on proceeding with its annual supply plan as scheduled, regardless of performance fluctuations caused by quarterly supply timing.

A company official stated, “Since the first half of last year saw a concentration of emergency supplies due to the global spread of cholera, there is a high base effect that makes a simple comparison with this year’s first-half performance difficult,” adding, “Global demand for cholera vaccines currently remains robust, and in particular, the volume for prevention campaigns is continuously expanding.”

The spokesperson continued, “As the supply secured in the second quarter is shipped sequentially, we expect revenue growth to gain momentum starting in the third quarter,” and added, “Through stable production and supply, we will achieve this year’s annual supply targets without a hitch and actively respond to global demand for cholera vaccines.”