Kolon Co., Q3 Operating Profit of 31.8 Billion KRW...61.6% Decrease YoY

Q3 Operating Profit 31.8 Billion Won... 61.6% Decrease

Kolon Corporation announced on the 14th that its consolidated operating profit for the third quarter of this year was 31.8 billion KRW, a decrease of 61.6% compared to the same period last year.

Sales increased by 4.2% year-on-year to 1.433 trillion KRW.

The decline in operating profit and net income is attributed to the decreased profitability in the construction division of Kolon Global and the reduced equity-method income due to weakened demand in the industrial materials and fashion divisions of Kolon Industries.

Kolon Industries' manufacturing division is preparing to complete the Aramid double-up expansion in the fourth quarter. The fashion division expects improved performance in the fourth quarter, coinciding with the peak season in the fashion industry.

Kolon Global has achieved milestones such as signing a Memorandum of Understanding (MOU) for a water treatment project in Saudi Arabia, securing orders for apartment complexes in Mongolia and a new KT&G factory in Kazakhstan, and is diversifying its portfolio with projects like the relocation of the Indonesian capital.

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