Operating Profit 154.7 Billion KRW... 143% Increase YoY
In the third quarter of this year, LX International achieved strong performance with operating profit more than doubling compared to the previous year. This is attributed to favorable resource trading and increased cargo volume.
LX International announced preliminary consolidated results for the third quarter of this year, recording sales of 4.5603 trillion KRW and operating profit of 154.7 billion KRW. Compared to the same period last year, sales increased by 24.6% and operating profit rose by 143.2%.
An LX International official stated, "Despite the continued downward stabilization trend in global resource prices, we achieved significant improvement in operating performance due to increased sales volume in resource trading such as coal and palm oil (CPO), as well as rising maritime freight rates and increased cargo volume." He added, "Going forward, we will focus on recovering investments through increased production and maximizing trading profitability to prepare for fluctuations in resource market conditions."
LX International is accelerating the cultivation of new revenue sources through diversification of its resource portfolio and regional expansion, building a stable profit base. The Indonesian AKP nickel mine, acquired earlier this year, is rapidly entering a stable operational phase and is expected to become a full-fledged revenue source in the future. The mine covers an area of approximately 2,000 hectares, seven times the size of Yeouido, with an estimated nickel ore reserve of 36 million tons. This amount is sufficient to produce batteries for 7 million electric vehicles.
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