Q3 sales reach 5.19 trillion won, operating profit 143.1 billion won
LX International posted sales of 5.19 trillion won ($3.87 billion) and operating profit of 143.1 billion won in the third quarter of this year, the company announced Wednesday. Both figures rose from the same period last year — sales by 15.1% and operating profit by 120.8%.
Cumulative operating profit for the first three quarters of this year reached 369.8 billion won, already surpassing the company's full-year operating profit of 292.2 billion won last year.
The earnings improvement was driven by higher transaction volumes in the resources and logistics businesses, along with a rebound in commodity markets and rising maritime freight rates. Indonesian coal prices (ICI4) climbed 61.9% from a year earlier, boosting selling prices at the GAM mine, while the Shanghai Containerized Freight Index rose more than twofold over the same period.
LX International is expanding future growth engines on the back of balanced growth across its business portfolio. The company plans to steadily improve profitability from its thermal coal and nickel assets while diversifying into high-potential minerals such as bauxite and copper to broaden the foundation of its resources business. It also intends to actively pursue new business opportunities in areas including biomass, steel, renewable energy and food.
"We plan to respond flexibly to rapidly changing market conditions while simultaneously strengthening our stable earnings base and medium- to long-term growth drivers," a company official said.
yeongdai@heraldcorp.com
