Kolon Plastics Q3 Operating Profit 7.2 Billion KRW... 46% Decrease YoY
Kolon Plastics announced on the 7th that its consolidated operating profit for the third quarter of this year was tentatively estimated at 7.2 billion KRW, a 46.4% decrease compared to the same period last year.
Sales decreased by 15.1% to 112.4 billion KRW, and net profit also fell by 27.9% to 6.8 billion KRW. The decline in raw material prices was reflected in selling prices, leading to decreases in sales and operating profit. In particular, production volume decreased due to regular maintenance in the third quarter, causing an increase in costs and a decline in profitability.
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However, despite the sluggish market conditions, the company explained that sales volume increased compared to the previous quarter based on a solid customer portfolio. Kolon Plastics stated, "In the fourth quarter, production normalization will resolve cost increase factors, and profitability will recover." They added, "Despite the continued challenging external environment, we plan to secure a foundation for future growth by targeting high value-added and eco-friendly markets."
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