Dong-A Socio Holdings achieves record quarterly revenue growth in Q3, driven by key subsidiaries

Dong-A Socio Holdings achieved record quarterly revenue in the third quarter of this year, spurred by strong growth across its key subsidiaries.

According to a public disclosure on Friday, Dong-A Socio Holdings posted consolidated revenue of 356.9 billion won in the third quarter. This represents a 23.4 percent increase year-on-year and marks the company's largest quarterly revenue since it became a holding company in 2013. 

However, operating profit fell 9 percent year-on-year to 22.5 billion won, attributed to higher cost rates at Dong-A Pharmaceutical, a packaging container maker, and a beverage producer.

Dong-A Pharmaceutical's third-quarter sales rose thanks to growth in the energy drink Bacchus sales and over-the-counter (OTC) segments, particularly with topical skincare products. However, its operating profit declined 13.8 percent due to higher cost of goods sold and SG&A expenses. 

STgen Bio, a biopharmaceutical contract manufacturing organization (CMO), reported sales of 16.8 billion won, a 190.4 percent surge year-on-year. This was driven by higher commercialization volumes of its Stellara biosimilar, which is being prepared for a global launch.