Kolon Plastic Reports Q3 Operating Profit of 13.5 Billion KRW... Consecutive Record Highs for Two Quarters

Sales of 132.5 Billion KRW... 26% Increase Year-on-Year
Strong Sales in Polyoxymethylene Business

Kolon Plastics Gyeongbuk Gimcheon Plant Panorama

[Asia Economy Reporter Choi Seoyoon] Kolon Plastics has achieved its highest-ever operating profit, driven by strong sales in its polyoxymethylene (POM) business.

Kolon Plastics announced on the 7th that its consolidated sales for the third quarter of this year reached 132.5 billion KRW, with an operating profit of 13.5 billion KRW. Compared to the same period last year, sales increased by 26% and operating profit rose by 20%.

In particular, operating profit set a new record for the second consecutive quarter, following the previous quarter's 11.5 billion KRW.

The cumulative operating profit for the third quarter reached 36 billion KRW, significantly surpassing last year's operating profit of 27.7 billion KRW.

Kolon Plastics explained, "Due to the global economic downturn, the petrochemical sector's market conditions have worsened, and demand in the home appliances and consumer goods sectors has declined. In this challenging environment, Kolon Plastics restructured its portfolio focusing on special applications and expanded sales to global major customers, establishing a stable business foundation that contributed to the improved performance."

They added, "Although the business environment is expected to face demand contraction due to inflation and high interest rates, Kolon Plastics will continue to grow as a core materials company creating future innovations by offering high value-added materials and various solutions applied to carbon neutrality, eco-friendly vehicles, medical products, and high-performance electrical and electronic products."

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