Lotte Chemical returns to Q2 profit as revenue jumps 39.2%

Lotte Chemical posted a second straight quarterly profit in the second quarter, reporting preliminary consolidated revenue of ₩5.69 trillion and operating profit of ₩110.1 billion on August 7 as production optimization and margin-focused operations helped it navigate supply chain disruption tied to Middle East geopolitical risks. Revenue rose 39.2% from a year earlier, and the company reversed from an operating loss of ₩250.5 billion in the second quarter of last year after also recording an operating profit of ₩73.5 billion in the first quarter of this year. Advanced materials was the main earnings driver, while basic chemicals remained profitable but weakened from the prior quarter because of maintenance shutdowns and delayed raw material price effects. Lotte Chemical said third-quarter conditions are likely to remain challenging because of slow global demand recovery and raw material price volatility, but it plans to keep improving profitability and accelerate restructuring, including the Daesan and Yeosu plant integration efforts and an expansion of specialty materials capacity at Yulchon.

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Lotte Chemical returns to Q2 profit as revenue jumps 39.2% - CoinPost Terminal