[eGongsi Notice] Kia's 3Q Revenue Hits 23.1 Trillion, All-Time High... Operating Profit Down 42% (Afternoon Summary)

[Image source=Yonhap News]

[Asia Economy Reporter Myung-hwan Lee] Kia announced on the 25th that its consolidated sales for the third quarter of this year were preliminarily estimated at 23.1616 trillion KRW, a 30.5% increase compared to the same period last year. This is the highest quarterly figure ever recorded.

However, operating profit for the same period decreased by 42.1% to 768.232 billion KRW, and net profit dropped by 59.6% to 458.895 billion KRW.

Below are Kia's disclosures along with other major announcements made during the afternoon trading session.

▲ Unid: Consolidated operating profit for the third quarter of this year was preliminarily estimated at 47.933 billion KRW, a 9.72% increase compared to the same period last year. Sales increased by 62.16% to 440.276 billion KRW during the same period.

▲ Kyungbo Pharmaceutical: Signed a raw pharmaceutical material supply contract worth 10.8 billion KRW with Chinese pharmaceutical company 'Landu Pharmaceuticals.'

▲ Sewon ENC: Signed a plant equipment supply contract worth 18.59 billion KRW with LG Chem.

▲ Woori Financial Group: Consolidated operating profit for the third quarter of this year was preliminarily estimated at 1.2706 trillion KRW, a 16.38% increase compared to the same period last year. Sales increased by 135.37% to 20.4436 trillion KRW during the same period.

▲ Woori Financial Group: Subsidiary Woori Bank's consolidated operating profit for the third quarter of this year was preliminarily estimated at 1.1078 trillion KRW, an 18.77% increase compared to the same period last year. Sales increased by 144.20% to 19.3964 trillion KRW during the same period.

▲ Woori Investment & Securities: Consolidated operating profit for the third quarter of this year was preliminarily estimated at 30.55 billion KRW, a 3.8% increase compared to the same period last year. Sales increased by 19% to 99.021 billion KRW during the same period.

▲ Hyundai Doosan Infracore: Consolidated operating profit for the third quarter of this year was preliminarily estimated at 74.687 billion KRW, a 13.8% decrease compared to the same period last year. Sales increased by 21.1% to 1.1769 trillion KRW during the same period.

▲ KB Financial Group: Consolidated operating profit for the third quarter of this year was preliminarily estimated at 1.5989 trillion KRW, a 10.55% decrease compared to the same period last year. Sales increased by 98.80% to 32.7495 trillion KRW during the same period. Additionally, a quarterly cash dividend of 500 KRW per common share was decided.

▲ KB Financial Group: Subsidiary Kookmin Bank's consolidated operating profit for the third quarter of this year was preliminarily estimated at 1.0876 trillion KRW, a 5.40% increase compared to the same period last year. Sales increased by 149.80% to 20.7813 trillion KRW during the same period.

▲ KB Financial Group: Subsidiary KB Securities' consolidated operating profit for the third quarter of this year was preliminarily estimated at 112.776 billion KRW, a 52.24% decrease compared to the same period last year. Sales increased by 125.48% to 4.9555 trillion KRW during the same period.

▲ Koramco The One REITs: Dividend of 60 KRW per common share decided.

▲ Jeju Bank: Consolidated operating profit for the third quarter of this year was preliminarily estimated at 8.443 billion KRW, a 12.82% decrease compared to the same period last year. Sales increased by 37.56% to 71.174 billion KRW during the same period.

▲ Osstem Implant: Consolidated operating profit for the third quarter of this year was preliminarily estimated at 55.731 billion KRW, a 57.1% increase compared to the same period last year.

▲ C&G Hi-Tech: Signed a semiconductor manufacturing equipment supply contract worth 5.0915 billion KRW with shareholder Nagase Engineering Service Korea.

▲ Humax: Decided to provide a debt guarantee worth 12 billion KRW for subsidiary Winnercom.

▲ Interojo: Decided to dispose of treasury shares worth 29.94 million KRW for the purpose of paying bonuses to long-term employees. Additionally, decided to enter into a trust contract to acquire treasury shares worth 300 million KRW to stabilize stock prices and enhance shareholder value.

▲ Sang-A Frontec: Consolidated operating profit for the third quarter of this year was preliminarily estimated at 4.321 billion KRW, an 11.7% increase compared to the same period last year.

▲ Top Material: Signed a supply contract worth 18.1 billion KRW with 'Morrow Industrialization Center AS' for a material handling system used in lithium-ion battery cell manufacturing.