LX International Reports KRW 116.9 Billion Q1 Operating Profit, Up 5.6% YoY
Increase in Mine Production
Rise in Palm Oil Market Conditions
On April 30, LX International announced that its consolidated operating profit for the first quarter was KRW 116.9 billion, a 5.6% increase compared to the same period last year. Revenue rose by 7.2% to KRW 4.0483 trillion.
An LX International representative explained, "We achieved results that exceeded market consensus due to increased nickel mine production, a rise in palm oil market conditions, and higher logistics cargo volume."
To secure future sources of revenue, LX International is working to acquire promising mineral assets, including secondary battery minerals, based on the stable profit generation of its existing businesses such as coal, palm, and trading.
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The company is enhancing the profitability of the AKP nickel mine in Indonesia, which it acquired last year, and is pursuing additional acquisitions of nickel-related assets. Over the mid- to long-term, it is also actively considering investments in copper assets. LX International has strengthened its regional base by designating India, which has high growth potential, as a new strategic region.
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