SK Chemicals Posts Q3 Operating Profit of KRW 16.4 Billion, Down 45% YoY

"Remained profitable despite the industry downturn"
Consolidated operating profit rose 115.6%

A view of SK Chemicals' headquarters in Pangyo

SK Chemicals said in a disclosure on November 9 that, on a standalone basis, it recorded revenue of KRW 402.1 billion and operating profit of KRW 16.4 billion in the third quarter. Revenue increased 8.2% from the same period last year, while operating profit fell 45.0%.

The company said, "Profits declined amid a deterioration in external conditions across the chemical industry, including rising raw material prices, a stronger won and oil price fluctuations. However, our competitive edge in specialty materials such as copolyester and functional materials enabled us to remain profitable despite the industry downturn."

An SK Chemicals official said, "Through ongoing efforts to optimize operations, we will improve the cost competitiveness of key businesses, including copolyester, expand sales of high-value-added products, and establish a stable operating system that can respond flexibly to external changes."

On a consolidated basis, including subsidiaries SK bioscience and SK Multi Utility, SK Chemicals recorded third-quarter revenue of KRW 740.8 billion and operating profit of KRW 33.6 billion. These figures were up 21.5% and 115.6%, respectively, from the same period last year.

The company said, "Strong business performance at subsidiaries such as SK bioscience, along with reduced losses, helped diversify our business portfolio and improve results."

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