Lotte Fine Chemical's provisional consolidated operating profit for the third quarter of this year was tallied at KRW 22 billion, a 20.3% decrease from the same period last year. While revenue increased year-on-year, both operating profit and net profit declined.

Q3: Profit Falls Despite Revenue Growth

According to the provisional consolidated financial results announced by Lotte Fine Chemical on the 29th, third-quarter revenue came to KRW 525.3 billion, up 18.5% from KRW 443.4 billion in the same period last year. However, this represents a 10.4% decline compared to the previous quarter's KRW 586.3 billion.

Operating profit fell 20.3% year-on-year to KRW 22 billion from KRW 27.6 billion, and dropped 64.5% compared to the previous quarter's KRW 61.9 billion.

Profit from continuing operations before income tax expenses rose 2.0% year-on-year to KRW 36.3 billion from KRW 35.6 billion, but fell 68.4% from the previous quarter's KRW 115 billion. Net profit declined 14.2% year-on-year to KRW 30.2 billion from KRW 35.2 billion, and fell 67.9% from the previous quarter's KRW 94.2 billion. Net profit attributable to owners of the parent company was also tallied at KRW 30.2 billion.

Cumulative Q1-Q3 Results Up Across All Indicators

On a cumulative basis for the first three quarters of this year, all indicators increased compared to the same period last year. Cumulative revenue reached KRW 1.6222 trillion, up 23.5% from KRW 1.3136 trillion a year earlier. Cumulative operating profit rose 111.4% year-on-year to KRW 116.5 billion from KRW 55.1 billion.

Over the same period, cumulative profit from continuing operations before income tax expenses increased 135.4% year-on-year to KRW 206.7 billion from KRW 87.8 billion. Cumulative net profit and net profit attributable to owners of the parent company each rose 113.8% year-on-year to KRW 169.1 billion from KRW 79.1 billion.

Provisional Figures Pending Audit... Subject to Change

The company stated that these results are provisional figures prepared before the audit by external auditors has been completed, and that some figures may change during the accounting audit process. The disclosed amounts are rounded to the nearest 100 million won, and the earnings release materials will be posted on the company's website following the announcement.