SG Returns to Operating Profit in Q2, Confident in Growth of Scale and Profitability in Second Half

SG, a company specializing in asphalt concrete (Ascon), announced on August 14 that it had returned to an operating profit in the second quarter.

On a consolidated basis, SG posted sales of 35.1 billion KRW and an operating profit of 2.2 billion KRW in the second quarter. This represents a 146% improvement in scale compared to the previous quarter.

This performance improvement was driven by two main factors: the expansion of sales for 'Eco Steel Ascon' and the full-scale commercialization of the SGR+, an exhaust gas reduction device dedicated to Ascon plants. SGR+ offers easier maintenance and superior cost-saving effects compared to traditional filter-based systems.

A representative from SG stated, "SGR+ helped reduce earnings volatility by concentrating demand during the off-season for the Ascon business," adding, "With the peak season for Ascon approaching in the second half of the year and the opening of the Ascon market in the Seoul metropolitan and Chungcheong regions to mid-sized companies in 2024, we expect to see simultaneous growth in both profitability and scale."

The representative continued, "Efforts to secure mid- to long-term growth momentum through overseas businesses in Ukraine, India, and other countries are also progressing smoothly. In addition, we expect growth to accelerate as Eco Steel Ascon has obtained certification for carbon emission reduction."

Eco Steel Ascon is an environmentally friendly, high value-added product that utilizes steel slag and is characterized by minimizing carbon emissions. Recently, it received the Carbon Reduction Certification Standard (KCS) from the Korea Chamber of Commerce and Industry, demonstrating its competitiveness in environmental, social, and governance (ESG) factors.

This content was produced with the assistance of AI translation services.