[e Gongsi Notice Stands Out] Lotte Shopping Operating Profit Increases but Reports 'Net Loss' (Afternoon Summary)

[Asia Economy Reporter Junho Hwang] Lotte Shopping announced on the 4th that it achieved an operating profit of 150.1 billion KRW in the third quarter of this year. This figure represents a 418.6% increase compared to the same period last year. However, it recorded a net loss of 95.1 billion KRW, turning to a deficit. Lotte Shopping explained, "The home appliance market was hit by the economic recession and interest rate hikes, resulting in poor performance by Hi-Mart, and reflecting impairment losses led to a net loss of 95.1 billion KRW for the period." Below are the major disclosures made that afternoon.

◆Lotte Shopping= On a consolidated basis, the operating profit for the third quarter of this year was preliminarily estimated at 150.1 billion KRW, a 418.6% increase compared to the same period last year. Sales were 4.0133 trillion KRW, up 0.2% year-on-year. Net loss was 95.1 billion KRW, turning to a deficit.

◆Innocean= On a consolidated basis, operating profit for the third quarter of this year was 36.314 billion KRW, down 8.9% from the previous year.

◆Abico Electronics= On a consolidated basis, operating profit for the third quarter of this year was 3.114 billion KRW, up 235.7% compared to the same period last year, according to disclosure. Sales during the same period expanded by 9.6% to 41.397 billion KRW.

◆GS Global= On a consolidated basis, operating profit for the third quarter of this year was 12.11 billion KRW, down 34.4% year-on-year. Sales during the same period increased by 20.4% to 1.28404 trillion KRW. Net income was 11.997 billion KRW, down 38.5%.

◆Kumho Petrochemical= On a consolidated basis, operating profit for the third quarter of this year was 230.459 billion KRW, down 63.1% compared to the same period last year. Sales during the same period decreased by 15.6% to 1.887177 trillion KRW. Net income was 210.819 billion KRW, down 65.1%.

◆Kotek= On a consolidated basis, operating profit for the third quarter of this year recorded 9.124 billion KRW, turning to a profit. Sales during the same period increased by 121.7% to 114.835 billion KRW. Net income was 17.81 billion KRW, up 677%.

◆Hyundai Rotem= Signed a contract with Hyundai Steel for the installation of desulfurization and denitrification facilities at the No. 3 coke plant in Dangjin, Chungnam. The contract amount is 72.38 billion KRW, which corresponds to 2.7% of last year’s sales. The contract period is from November to September 2024.