[Edaily Reporter KIM SAE-MI ] Pharmicell(005690)reported growth in both revenue and operating profit in the 40% range for the third quarter of this year, driven by expanding demand for AI-related electronic materials.

Pharmicell announced on the 12th that its operating profit on a standalone basis for the third quarter of this year was 11.9 billion won, a 46.6% increase compared to the same period last year. During the same period, revenue rose 44.1% to 37.0 billion won, but net income fell 5.6% to 8.3 billion won.

The operating profit margin for the third quarter stood at 32.3%. The decline in net income was influenced by corporate income tax expenses of 2 billion won, which were not incurred in the same period last year.

Cumulative revenue for the first three quarters of this year reached 112.6 billion won, a 41.8% increase compared to the same period last year. This figure represents 98.8% of last year’s annual revenue of 114.0 billion won. During the same period, cumulative operating profit rose 54.9% to 38.2 billion won, and net profit also increased by 23.4% to 30.4 billion won.

The growth in earnings was driven by the Biochemical Division. The Biochemical Division’s cumulative revenue for the third quarter reached 110 billion won, a 41.9% increase compared to the same period last year. Operating profit rose 43.5% to 42.1 billion won. This growth was driven by sales of electronic materials used in advanced information technology (IT) infrastructure, as well as pharmaceutical raw materials such as nucleosides and methoxypolyethylene glycol (mPEG).

Cumulative revenue for the Biomedical Division—which includes stem cell therapies, cosmetics, contract manufacturing (CMO), and contract testing—rose 39.2% to 2.6 billion won. The operating loss narrowed from 4.6 billion won in the same period last year to 3.8 billion won.

Pharmicell is constructing its third plant in Ulsan to meet the growing demand for advanced AI industrial materials and pharmaceutical active ingredients. The third plant is scheduled for completion by the end of January next year, and the company plans to expand its production capacity through this facility.

A Pharmicell official stated, “Growth in our core businesses, including electronic materials, continues,” adding, “We will continue to strengthen the competitiveness of our core businesses while also striving to improve performance in the biomedicine sector by expanding our bio-CMO business.”