Unid Reports Operating Profit of 35 Billion KRW in Q2, Improved Due to "Increased Overseas Sales"

Continued Expansion of Global Market Sales

Unid, the world's No. 1 potassium-based chemical product market share holder, saw its operating profit in the second quarter of this year increase fourfold compared to the previous year.

Unid announced on the 24th that it recorded consolidated sales of 291.6 billion KRW and an operating profit of 35 billion KRW in the second quarter of this year. Sales decreased by 3.16% year-on-year, while operating profit increased by 323.97%.

Unid's operating profit for the second quarter was 55.4 billion KRW in 2021 and 58.9 billion KRW in 2022, but dropped to 8.3 billion KRW last year.

Unid explained that the improvement in second-quarter performance this year was mainly due to increased overseas sales volume and significant improvement in the performance of its China subsidiary compared to last year. Unid stated, "In particular, the export volume of potassium carbonate increased significantly compared to the previous quarter," adding, "Since exports account for 90% of the company's sales, the recent strength of the dollar also had a positive impact on Unid's performance improvement."

Exterior view of Unid Ulsan Plant [Photo by Unid]

Unid plans to focus on expanding its product portfolio and improving profitability by fully operating the CPs (Chlorinated Paraffin Wax) plant in China, which began full-scale operations this month, and completing new electrolytic cell investments at its Ulsan plant and putting the equipment into operation.

A Unid official said, "Through continuous expansion and facility investment, we will continue to record stable performance and strengthen our position in the global market."