SK Chemicals Posts Q3 Revenue of KRW 402.1 Billion and Operating Profit of KRW 16.4 Billion

• Revenue up 8.2% year-on-year on a separate basis, remaining profitable despite an industry downturn
• Records revenue of KRW 740.8 billion and operating profit of KRW 33.6 billion on a consolidated basis
  

SK Chemicals announced in a regulatory filing on November 9 that, on a separate (parent-company) basis, it posted revenue of KRW 402.1 billion and operating profit of KRW 16.4 billion in the third quarter.

Revenue rose 8.2% year-on-year, while operating profit fell 45.0%.

The company explained that although its profits declined due to a deteriorating external environment across the chemical industry, including rising raw material prices, a stronger Korean won, and oil price volatility, it remained in the black despite the industry downturn, supported by the competitiveness of its specialty materials such as copolyester and functional materials.

A representative of SK Chemicals said, "Through continuous efforts to optimize our operations, we will strengthen the cost competitiveness of our core businesses, including copolyester, and expand sales of high value-added products, while establishing a stable operating system that can respond flexibly to external changes."

Meanwhile, on a consolidated basis including subsidiaries SK Bioscience and SK Multi Utility, SK Chemicals posted third-quarter revenue of KRW 740.8 billion and operating profit of KRW 33.6 billion, up 21.5% and 115.6% year-on-year, respectively. The company explained that strong business performance and narrower losses at its subsidiaries, including SK Bioscience, allowed the benefits of its diversified business portfolio to translate into improved earnings.

[Photo caption: SK Chemicals' headquarters located in Pangyo, Seongnam, Gyeonggi Province]