SK Chemical Reports Q2 Operating Profit of 86.1 Billion KRW... Highest Quarterly Performance

[Asia Economy Reporter Choi Dae-yeol] SK Chemicals announced on the 9th that its consolidated operating profit for the second quarter of this year reached 86.1 billion KRW, a 388% increase compared to the same period last year. Sales rose 51% to 435.7 billion KRW during the same period.

After achieving the highest quarterly performance in history in the first quarter, the company set a new record in the second quarter. Sales and operating profit in the second quarter increased by 15% and 18%, respectively, compared to the previous quarter.

All business divisions showed balanced growth and delivered solid results. In particular, its subsidiary SK Bioscience played a significant role in increasing both sales and profits through contract manufacturing of COVID-19 vaccines.

The copolyester business in the Green Chemical division saw sales increase by 5% year-on-year due to new application development and customer expansion, but operating profit declined by 15% due to rising raw material prices and freight costs. The PPS business recorded sales of 9.9 billion KRW, approximately double that of the same period last year. Losses amounted to 6.1 billion KRW, with the deficit narrowing since the end of last year.

The pharmaceutical business in the Life Science division recorded sales of 78 billion KRW and operating profit of 8.8 billion KRW. SK Bioscience’s sales reached 144.6 billion KRW, a 267% increase compared to the same period last year, and operating profit returned to the black. This marks the highest quarterly profit since the third quarter of last year, maintaining steady profitability.

This content was produced with the assistance of AI translation services.