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Lotte Chemical Daesan Plant. (Photo courtesy of Lotte Chemical) |
[Alpha Biz= Paul Lee] Lotte Chemical reported a consolidated operating loss of KRW 433.9 billion for the fourth quarter of last year, according to a regulatory filing on February 4.
The loss widened from KRW 233.7 billion recorded in the same period a year earlier.
For the quarter, the company posted revenue of KRW 4.7099 trillion and a net loss of KRW 1.609 trillion.
For the full year, Lotte Chemical recorded an operating loss of KRW 943.6 billion, slightly wider than the KRW 914.5 billion loss reported the previous year. Annual revenue declined 7.1% year-on-year to KRW 18.483 trillion, while net loss totaled KRW 2.4901 trillion.
Looking ahead, the company said it will execute its strategy along two main pillars: reducing exposure to commodity petrochemical businesses and building foundations for future growth.
Lotte Chemical plans to accelerate the expansion of high-performance materials and eco-friendly energy businesses, while broadening its portfolio of high value-added products through the Yulchon Compounding Plant, scheduled for completion this year.
The company also intends to gradually expand its battery materials business by completing construction of a cathode foil plant in the United States within the year, targeting functional copper foil products, including circuit foils for artificial intelligence (AI) applications.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
