LX Inter, Operating Profit of 209.6 Billion KRW... Records 'Largest Quarterly Earnings Ever'

Raw Material Market Uptrend, Increased Volume and Freight Rates... Operating Profit Up 500.6% YoY

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[Asia Economy Reporter Ki-min Lee] LX International recorded its highest quarterly performance ever, driven by rising raw material market conditions, increased volume, and higher logistics freight rates. In particular, operating profit soared sixfold compared to the third quarter of last year, surpassing market expectations.

On the 5th, LX International announced that its consolidated sales for the third quarter reached 4.4948 trillion KRW, with an operating profit of 209.6 billion KRW. Compared to the same period last year, sales increased by 42.5% and operating profit by 500.6%. Even compared to the record-high second quarter of this year, sales rose by 13.6% and operating profit by 66.6%.

Cumulative sales up to the third quarter of this year amounted to 12.1359 trillion KRW, and cumulative operating profit reached 448.6 billion KRW, already surpassing last year's total annual sales of 11.2826 trillion KRW and operating profit of 159.8 billion KRW.

LX International cited improved performance across all business sectors?including energy & palm, living resources & solutions, and logistics?as the main factors behind the strong third-quarter results. The rise in resource market conditions and production volume, increased trading profits due to IT market growth, higher logistics freight rates, and increased volume from external clients contributed not only to the company's top-line growth but also to profit improvement.

An LX International representative stated, "We are maximizing the value and profitability of our existing competitive assets while driving business portfolio innovation centered on eco-friendly industries from an ESG perspective. We will build sustainable independent operation business models in promising new growth areas such as nickel and other secondary battery core mineral development, renewable energy generation, carbon emission rights, resource circulation, as well as logistics real estate and healthcare."

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