KG Chemical announced that its cumulative operating profit for the third quarter reached 21.6 billion won, a 35.2% increase compared to the same period last year.
During the same period, sales rose to 180.1 billion won, marking a 3.5% increase year-on-year.
This improvement in performance is attributed to strong results in its core businesses, including eco-friendly fertilizers and agricultural materials. Stable orders in the key chemical materials sector also contributed to the enhanced profitability.
KG Chemical is accelerating the development of new agricultural technologies, having recently filed a joint patent with the Gyeongju Agricultural Technology Center for an AI-based crop monitoring and prescription system, completing field demonstrations.
The cumulative consolidated sales for the third quarter, including major subsidiaries, reached 7.3929 trillion won, a 9.3% increase from the previous year. This growth was influenced by KG Steel surpassing 1 trillion won in quarterly sales, strong exports of eco-friendly vehicles from KG Mobility, and stable performance from KG Inicis. During the same period, consolidated operating profit was recorded at 160.5 billion won.
However, on a consolidated basis for the third quarter, sales were 2.4182 trillion won, with an operating profit of 5 billion won and a net loss of 105.5 billion won. Factors affecting this included decreased export profitability due to exchange rate fluctuations, foreign exchange losses, and maintenance of new vehicle production lines at KG Mobility.
KG Chemical plans to enhance synergies across its mobility business, which includes new car manufacturing, used car distribution, and installment financing, centered around KG Mobility Platform (K Car), which was integrated in September, as production normalizes in the fourth quarter.
A KG Chemical official stated, "Despite numerous external variables, the improvement in our chemical and agricultural materials business and a focus on profitability have led to growth in our performance. We aim to enhance our technological competitiveness in our core business and maximize synergies among subsidiaries to increase corporate value."
* This article has been translated by AI.
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