Financials Celltrion, Inc.

Equities

A068270

KR7068270008

Biotechnology & Medical Research

End-of-day quote Korea S.E. Other stock markets 13/06/2025			5-day change	1st Jan Change
160,800.00 ^KRW	-1.89%		+2.53%	-10.81%

05-27	South Korean Shares Slip on Profit-Booking; Korea Zinc Loses 4% on KFTC Probe	MT
05-27	Celltrion to Issue Nearly 8.5 Million Bonus Shares Amid Valuation Concerns	MT

Projected Income Statement: Celltrion, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	1,849	1,891	2,284	2,176	3,557	4,345	5,227	6,082
Change	-	2.26%	20.79%	-4.71%	63.45%	22.15%	20.29%	16.36%
EBITDA ¹	891.4	972.1	873.6	897.2	910.3	1,477	1,949	2,318
Change	-	9.06%	-10.14%	2.7%	1.46%	62.25%	31.97%	18.94%
EBIT ¹	712.1	753.9	647.2	651.5	492	1,192	1,663	2,033
Change	-	5.86%	-14.15%	0.66%	-24.48%	142.17%	39.54%	22.31%
Interest Paid ²	-7,503	-8,238	-7,508	-9,665	-75,572	-49,330	-48,350	-51,943
Earnings before Tax (EBT) ¹	650.7	746.9	626.2	671.1	576.1	1,150	1,648	2,006
Change	-	14.79%	-16.17%	7.17%	-14.15%	99.54%	43.36%	21.71%
Net income ¹	511.3	575.1	533.2	535.6	422.7	883	1,275	1,550
Change	-	12.48%	-7.29%	0.47%	-21.09%	108.89%	44.42%	21.56%
Announcement Date	22/02/21	16/02/22	03/03/23	29/02/24	25/02/25	-	-	-

¹KRW in Billions²KRW in Million

Estimates

Fiscal Period: December	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	428.8	548.8	498.7	457	431.8	401	601.1	550.6	596.1	645.6	510.6	597.5	524	672.3	382.6	737	874.7	881.9	1,064	841.9	986.6	1,129	1,308	1,113	1,271	1,396	1,464
Change	-	27.98%	-9.12%	-8.37%	-5.51%	-7.14%	49.92%	-8.41%	8.26%	8.32%	-20.91%	17.01%	-12.3%	28.31%	-43.09%	92.63%	18.69%	0.82%	20.6%	-20.85%	17.19%	14.42%	15.9%	-14.91%	14.14%	9.89%	4.85%
EBITDA ¹	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	147	204.7	283.4	275.2	220.4	310.2	400.2	470	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	39.21%	38.42%	-2.89%	-19.92%	40.79%	29%	17.44%	-	-	-	-
EBIT ¹	181.8	245.3	164.7	207.7	163.2	164	219	142.3	199	213.8	100.6	182.4	183	267.6	18.42	15.44	72.49	207.7	196.4	149.4	240	320.2	417.9	345	431.9	491.8	546.9
Change	-	34.88%	-32.83%	26.04%	-21.4%	0.47%	33.57%	-35.04%	39.84%	7.44%	-52.93%	81.22%	0.35%	46.25%	-93.12%	-16.21%	369.57%	186.51%	-5.43%	-23.92%	60.63%	33.42%	30.5%	-17.46%	25.21%	13.86%	11.22%
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	180.6	231	100.7	258.4	155.6	187.6	145.2	-	226.8	217.3	48.49	208.2	189.7	282.9	-	-	104.2	178.2	274	195.5	236.3	-	-	-	-	-	-
Change	-	27.9%	-56.41%	156.69%	-39.79%	20.57%	-22.6%	-	-	-4.18%	-77.69%	329.38%	-8.89%	49.12%	-	-	-	71.07%	53.71%	-28.65%	20.88%	-	-	-	-	-	-
Net income ¹	138.1	170.7	97.57	-	125.5	135.5	120.5	118.5	183.4	166.7	64.53	166.9	147.5	221.8	1.054	22.44	78.01	85.59	236.6	108.7	195.9	224.8	345	-	-	-	-
Change	-	23.6%	-42.83%	-	-	7.96%	-11.08%	-1.62%	54.75%	-9.12%	-61.29%	158.61%	-11.61%	50.38%	-99.52%	2,028.84%	247.68%	9.72%	176.48%	-54.08%	80.28%	14.73%	53.5%	-	-	-	-
Announcement Date	07/08/20	09/11/20	22/02/21	12/05/21	13/08/21	10/11/21	16/02/22	12/05/22	05/08/22	09/11/22	03/03/23	08/05/23	14/08/23	07/11/23	29/02/24	09/05/24	07/08/24	08/11/24	25/02/25	09/05/25	-	-	-	-	-	-	-

¹KRW in Billions

Estimates

Forecast Balance Sheet: Celltrion, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	100	-476	236	1,310	1,165	1,430	448	-562
Change	-	-576%	149.58%	455.08%	-11.07%	22.7%	-68.67%	-225.45%
Announcement Date	22/02/21	16/02/22	03/03/23	29/02/24	25/02/25	-	-	-

¹KRW in Billions

Estimates

Cash Flow Forecast: Celltrion, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	87.01	63.38	111.2	210	135.1	147.3	164.7	159.7
Change	-	-27.16%	75.4%	88.94%	-35.7%	9.04%	11.87%	-3.07%
Free Cash Flow (FCF) ¹	263,739	589,594	-110,305	327,112	766,812	674,380	987,200	1,276,575
Change	-	123.55%	-118.71%	396.55%	134.42%	-12.05%	46.39%	29.31%
Announcement Date	22/02/21	16/02/22	03/03/23	29/02/24	25/02/25	-	-	-

¹KRW in Million

Estimates

Forecast Financial Ratios: Celltrion, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	48.21%	51.41%	38.25%	41.22%	25.59%	33.99%	37.29%	38.12%
EBIT Margin (%)	38.51%	39.87%	28.34%	29.93%	13.83%	27.42%	31.81%	33.44%
EBT Margin (%)	35.19%	39.5%	27.42%	30.83%	16.2%	26.46%	31.53%	32.98%
Net margin (%)	27.65%	30.42%	23.34%	24.61%	11.88%	20.32%	24.4%	25.49%
FCF margin (%)	14,262.95%	31,181.9%	-4,829.54%	15,029.76%	21,555.98%	15,520.37%	18,887.51%	20,990.78%
FCF / Net Income (%)	51,582.76%	102,521.45%	-20,688.64%	61,068.54%	181,411.45%	76,376.95%	77,416.22%	82,350.66%
Profitability
ROA	11.61%	10.7%	9.22%	4.31%	2.14%	4.12%	5.75%	6.52%
ROE	16.68%	16.5%	12.93%	5.07%	2.46%	5.16%	6.91%	7.96%
Financial Health
Leverage (Debt/EBITDA)	0.11x	-	0.27x	1.46x	1.28x	0.97x	0.23x	-
Debt / Free cash flow	0x	-	-0x	0x	0x	0x	0x	-
Capital Intensity
CAPEX / Current Assets (%)	4.71%	3.35%	4.87%	9.65%	3.8%	3.39%	3.15%	2.63%
CAPEX / EBITDA (%)	9.76%	6.52%	12.73%	23.41%	14.84%	9.97%	8.45%	6.89%
CAPEX / FCF (%)	0.03%	0.01%	-0.1%	0.06%	0.02%	0.02%	0.02%	0.01%
Items per share
Cash flow per share ¹	2,253	5,876	5.72	3,447	4,196	6,179	8,986	10,380
Change	-	160.82%	-99.9%	60,152.15%	21.75%	47.27%	45.42%	15.51%
Dividend per Share ¹	-	660.4	-	457.9	721.2	712.5	735.3	819.4
Change	-	-	-	-	57.5%	-1.21%	3.21%	11.43%
Book Value Per Share ¹	21,521	25,396	27,510	75,046	81,793	80,227	84,217	88,626
Change	-	18%	8.32%	172.8%	8.99%	-1.91%	4.97%	5.24%
EPS ¹	3,284	3,691	3,530	3,437	1,966	3,874	5,526	6,697
Change	-	12.4%	-4.36%	-2.65%	-42.79%	96.99%	42.66%	21.19%
Nbr of stocks (in thousands)	158,075	158,264	156,488	151,581	223,894	221,138	221,138	221,138
Announcement Date	22/02/21	16/02/22	03/03/23	29/02/24	25/02/25	-	-	-