Kolon ENP Reports Operating Profit of 9.7 Billion KRW in Q2, Up 8.9% YoY

Sales increased by 4.1% to 121 billion KRW
"Increase in sales of high value-added product lines"

Kolon ENP (formerly Kolon Plastic) announced on the 9th that its consolidated operating profit for the second quarter of this year was tentatively estimated at 9.7 billion KRW, an increase of 8.9% compared to last year.

Sales increased by 4.1% to 121 billion KRW, and net profit rose by 50.0% to 9.1 billion KRW. Kolon ENP explained that despite last year's economic downturn, it boosted both sales and profitability through increased sales of high value-added product lines, improvements in distribution structure, and optimization of the production system.

Compared to the previous quarter, operating profit and sales decreased by 7.2% and 1.7%, respectively. Kolon ENP attributed this to a slight slowdown in demand from overseas customers who temporarily increased inventory stockpiling in the first quarter, as well as increased export freight and cost burdens.

Kolon ENP Performance Trend [Image source=Kolon ENP]

A Kolon ENP official stated, "We plan to expand the supply of medical products, which recently began initial delivery, in the second half of the year," adding, "We will improve profitability through sales of high value-added product lines."

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