Asia Paper, Q3 Cumulative Sales of 682.4 Billion KRW... 31% Increase YoY
[Asia Economy Reporter Lee Junhyung] Corrugated base paper manufacturer Asia Paper announced on the 15th that its cumulative sales for the third quarter of this year reached 682.4 billion KRW, a 31% increase compared to the same period last year. The cumulative operating profit for the third quarter was 79.8 billion KRW, a 90% increase from the same period last year.
Although raw material prices surged in the third quarter, performance improved due to increased packaging demand. Asia Paper expects sales growth in the fourth quarter driven by increased shipments of agricultural products and online shopping packaging volume. The company plans to continue investing in facilities to stabilize processes and reduce production costs to improve profitability.
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The corrugated cardboard industry has undergone structural changes since the COVID-19 pandemic. Before COVID-19, the corrugated cardboard industry experienced high performance volatility depending on the front-end industry cycle. However, with delivery boxes emerging as essential consumer goods and the prolonged supply shortage of corrugated cardboard, the competitiveness of existing corrugated cardboard manufacturers has significantly increased, according to industry evaluations.
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