Kolon Industries Reports 17.6% Drop in Operating Profit Last Year Due to Aramid Scheduled Maintenance

Operating Profit Reaches 164.5 Billion KRW
Sales Total 4.8348 Trillion KRW

Kolon Industries' operating profit last year sharply declined by 17.6% due to the regular maintenance of aramid.

Kolon One&Only Tower. Provided by Kolon Industries

On the 4th, Kolon Industries announced that its consolidated sales for last year were 4.8348 trillion KRW, operating profit was 164.5 billion KRW, pre-tax profit was 128.7 billion KRW, and net profit was 109.5 billion KRW on a provisional basis. This earnings announcement was made in accordance with the disclosure requirement for changes in sales or profit structure exceeding 15%.

Sales increased by 2.1% compared to the previous year, but operating profit decreased by 17.6%. The company analyzed that despite the global economic downturn, sales slightly increased due to the strong performance of the chemical division, but operating profit declined due to factors such as the regular maintenance of aramid.

Pre-tax profit decreased by 12.3%, but net profit increased by 115.8% compared to the previous year due to asset valuation gains from business efficiency improvements in existing operations.

A Kolon Industries representative said, “This year, we expect performance improvement through diversification of the product lineup, including expansion of aramid pulp production and new applications, as well as reorganization of existing brands in the fashion division and expansion into overseas markets. Based on OE (Operation Excellence), we will strengthen efficiency throughout the entire process from raw material procurement to shipment to further enhance competitiveness in the global market.”

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