DL Q3 Operating Profit 121.4 Billion KRW... 910.9% Increase YoY

DL announced on the 1st that its consolidated operating profit for the third quarter of this year was tentatively estimated at 121.4 billion KRW, an increase of 910.9% compared to the same period last year.

Sales increased by 12.5% year-on-year to 1.4224 trillion KRW. Net profit turned positive at 22.1 billion KRW.

Looking at major subsidiaries, DL Chemical continued solid performance based on the profitability of the polybutene (PB) segment despite the sluggish petrochemical market.

Clayton, DL Chemical’s U.S. subsidiary, recorded profits for three consecutive quarters this year through improved profitability. Another subsidiary, Cariflex, achieved an operating profit margin exceeding 25% as demand for isoprene (IR) latex, used in surgical glove materials, continued. The Cariflex Singapore new plant, completed in June, is scheduled to start commercial production this month and is expected to contribute to performance from next year.

DL Energy entered the seasonal peak period, recording an operating profit of 54.4 billion KRW as power sales margins and utilization rates of domestic and overseas power generation assets increased. This is the best quarterly performance since DL Energy’s launch.

The hotel brand GLAD showed strong results with an operating profit margin of 30%, supported by an increase in foreign arrivals.

A DL Group official said, "Specialty petrochemical products and energy power generation businesses led the performance improvement, and all other subsidiaries maintained a profit trend," adding, "We will continue to maintain solid profitability by further expanding the proportion of high value-added products based on our technological capabilities."