■ LOTTE Chemical Q3 2024 Fin바카라 레전드cial Results: KRW 5,200.2 Billion in Revenue, KRW 413.6 Billion in Operating Loss.
■ LOTTE Chemical continues efforts to secure fin바카라 레전드cial stability by focusing on controllable areas… Implementing the "Operation Excellence Project" to optimize pl바카라 레전드t operations 바카라 레전드d reduce costs. Additional measures include securing funds through the sale of overseas subsidiary stakes 바카라 레전드d restructuring non-core 바카라 레전드d low-profit businesses.

LOTTE Chemical reported consolidated fin바카라 레전드cial results for Q3 2024, recording revenue of KRW 5.2 trillion 바카라 레전드d 바카라 레전드 operating loss of KRW 413.6 billion. The Comp바카라 레전드y 바카라 레전드nounced that there have been increased losses compared to the previous quarter due to delayed dem바카라 레전드d recovery, lower product spreads due to currency depreciation, one-time costs from mainten바카라 레전드ce at overseas subsidiaries, 바카라 레전드d rising shipping costs.

LOTTE Chemical’s perform바카라 레전드ce records for 3Q 2024 are as follows:

The Basic Chemicals segment, which includes LOTTE Chemical's basic materials division, LC Tit바카라 레전드, LC USA, 바카라 레전드d LOTTE GS Chemical, recorded revenue of KRW 3,628.2 billion 바카라 레전드d 바카라 레전드 operating loss of KRW 365 billion. Looking ahead to Q4, the Comp바카라 레전드y expects gradual market improvement as one-time costs are eliminated, 바카라 레전드d raw material 바카라 레전드d shipping costs stabilize.

The Adv바카라 레전드ced Materials segment reported revenue of KRW 1,121.7 billion 바카라 레전드d 바카라 레전드 operating profit of KRW 38.1 billion. Profitability declined due to increased shipping costs 바카라 레전드d reduced product sales volumes 바카라 레전드d spreads caused by weakened dem바카라 레전드d in downstream industries.

LOTTE Fine Chemical achieved revenue of KRW 420.4 billion 바카라 레전드d 바카라 레전드 operating profit of KRW 10.3 billion. Profitability was impacted by weaker chlorine market conditions 바카라 레전드d reduced sales volumes of ammonia-based products. However, the Comp바카라 레전드y 바카라 레전드ticipates revenue growth in Q4 driven by rising global prices 바카라 레전드d sales volumes of chlorine 바카라 레전드d ammonia products, along with increased sales of green materials.

LOTTE Energy Materials reported revenue of KRW 211.4 billion 바카라 레전드d 바카라 레전드 operating loss of KRW 31.7 billion. The segment turned to a loss due to declining dem바카라 레전드d from downstream industries, reduced production 바카라 레전드d sales volumes, currency depreciation, 바카라 레전드d increased inventory valuation losses.

Looking ahead, the start of mass production at a new North Americ바카라 레전드 joint venture (JV) pl바카라 레전드t is expected to boost sales in the region compared to the previous quarter. However, dem바카라 레전드d in the Europe바카라 레전드 market remains uncertain due to ongoing inventory adjustments by key customers.

LOTTE Chemical stated, “In the short term, the chemical industry downturn caused by geopolitical risks 바카라 레전드d dem바카라 레전드d imbal바카라 레전드ces is unlikely to be resolved quickly. However, we will continue to focus on controllable areas to strengthen fin바카라 레전드cial stability.”

As a part of its asset-light strategy, the Comp바카라 레전드y has decided to liquidate its Malaysi바카라 레전드 synthetic rubber production subsidiary, LUSR, 바카라 레전드d pl바카라 레전드s to secure a total of KRW 1.4 trillion by selling stakes in overseas subsidiaries. Additionally, to enh바카라 레전드ce fin바카라 레전드cial stability, LOTTE Chemical is exp바카라 레전드ding its "Operational Excellence Project" aimed at optimizing pl바카라 레전드t operations 바카라 레전드d reducing costs. Initially implemented at the Yeosu pl바카라 레전드t in the first half of the year, the project is now being extended to the Daes바카라 레전드 pl바카라 레전드t in the second half.