Kolon Industries' Q3 Operating Profit Jumps 66%, Driven by CPI Film and Chemicals
Revenue of 1.2747 trillion won and operating profit of 40.2 billion won
Higher shipments of foldable display film; petroleum resin sales remain steady
Aramid plants run at full capacity... Fashion sales also increase
Kolon Industries significantly increased its third-quarter operating profit, driven by strong sales of chemical materials.
Kolon Industries announced on November 11 that it recorded consolidated revenue of 1.2747 trillion won and operating profit of 40.2 billion won in the third quarter. Revenue rose 9.8% and operating profit increased 66.0% from the same period a year earlier. Despite continued external uncertainties, including a weaker exchange rate and rising raw material prices, sales of chemical products such as petroleum resins remained steady, and shipments of CPI film increased.
The chemicals segment led the improvement in results. CPI film, a transparent polyimide film used in foldable smartphone displays and other applications, contributed to higher revenue and operating profit as the company ramped up shipments in earnest. Key products, including petroleum resins, phenolic resins and epoxy resins, also sold steadily.
Revenue in the industrial materials segment edged up from the same period a year earlier. Aramid is being sold as it is produced, with the plants operating at full capacity, while sales of tire cord to major customers also increased.
The fashion segment increased sales, led by outdoor apparel and menswear, despite the seasonal off-season. Although the company expanded investment in new brands, it also improved operating profit slightly by managing its organization efficiently.
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A Kolon Industries official said, "We improved our results from the same period a year earlier by strengthening our business structure through operational efficiency and reshaping our portfolio around high-value-added products. We will secure long-term growth drivers by enhancing the competitiveness of our core materials and expanding our customer base."
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