LX International said Wednesday that it recorded revenue of 5.1872 trillion won and an operating profit of 143.1 billion won in the third quarter of this year. Revenue increased by 15.1% and operating profit rose by 120.8% compared to the same period last year.
Compared to the previous quarter, revenue grew by 8.6% and operating profit increased by 21.5%. The cumulative operating profit for the first three quarters of this year reached 369.8 billion won, already surpassing last year's full-year operating profit (292.2 billion won).
The improvement in performance was driven by the resources and logistics divisions. Increased transaction volumes in resources and logistics, along with rising resource prices and ocean freight rates, contributed to improved profitability. Cost reduction effects from operational efficiency improvements were also reflected.
In particular, as the ICI4 index, which indicates Indonesian coal prices, rose by 61.9% year-on-year, the coal sales price at the Indonesian GAM mine increased. Profits from resource trading also expanded. In the logistics division, performance improved as the Shanghai Containerized Freight Index (SCFI) more than doubled year-on-year and cargo volumes increased.
LX International plans to enhance the profitability of its existing resource business while securing new minerals. The company aims to improve operational efficiency for thermal coal and nickel assets and diversify its resource portfolio into bauxite, copper, and other materials. It also decided to expand the scale of its palm oil business based on stable revenue. The company is seeking investment opportunities in new businesses such as biomass, steel, renewable energy, and food.
An official from LX International said, "We plan to respond flexibly to the rapidly changing market environment while simultaneously strengthening a stable revenue base and medium- to long-term growth drivers."
in INDUSTRY
