Ssangyong C&E Achieves Operating Profit of 180.6 Billion Won in Q3

Increase in Environmental Business Division Sales Despite Rising Raw Material Prices

[Asia Economy Reporter Kim Jong-hwa] Ssangyong C&E is continuing its rebound by delivering results that exceed market expectations up to the third quarter of 2021, driven by increased domestic and international demand and the effects of proactive large-scale investments.

Ssangyong C&E's preliminary consolidated results for the first three quarters of this year show sales of 1.1753 trillion KRW and operating profit of 180.6 billion KRW. Despite the challenging environment caused by the COVID-19 pandemic's impact on the construction and real estate markets, as well as abnormal summer weather, sales and operating profit increased by 12.5% and 2.7%, respectively, compared to the same period last year.

The reason Ssangyong C&E was able to achieve such business results exceeding market expectations is attributed to increased shipment volumes due to rising domestic and international demand, along with continuous investments aimed at reducing manufacturing costs.

In particular, although the price of thermal coal, which accounts for 30-40% of manufacturing costs, surged more than threefold compared to the beginning of the year, the company’s proactive investments?such as establishing large-scale circular resource processing facilities since 2019 to expand the use of circular resources like waste plastics as substitutes for thermal coal?significantly contributed to the remarkable business performance.

Since Han & Company became the major shareholder in 2016, Ssangyong C&E has continuously sought differentiation through large-scale investments aimed at carbon reduction, equipment efficiency improvement, and manufacturing cost reduction.

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