(사진= 연합뉴스)

[Alpha Biz=(Chicago) Reporter Kim Jisun] Lotte Chemical announced on the 9th that its consolidated operating loss last year was 758.4 billion won, which was tentatively counted as a deficit compared to the previous year (operating profit of 1.5356 trillion won).

The annual deficit is the first time since Lotte Chemical was officially launched in 2012 by Lotte Group's Honam Petrochemical and KP Chemical.

Sales rose 22.9 percent year-on-year to 22.2761 trillion won. Net profit fell 97.1% to 41.1 billion won.

Operating loss in the fourth quarter of last year was 395.8 billion won, compared to the same period last year (operating profit of 29.5 billion won).

However, as the burden of raw materials eased slightly due to stabilization of oil prices, the deficit decreased compared to the previous quarter (operating loss of 423.9 billion won).

Sales in the fourth quarter were 5.4959 trillion won, up 6.5 percent from a year earlier. The net loss turned into a deficit of 80.6 billion won.

The basic material business recorded 3.167 trillion won in sales and 285.7 billion won in operating losses. The burden of raw material prices has decreased somewhat, but profitability has been sluggish due to falling demand.

Sales of the high-tech materials business were 1.794 trillion won and operating profit was 32 billion won. Despite falling demand for products, profitability has improved due to stabilizing raw material prices and reducing the burden of maritime fares.

Sales and operating losses of its subsidiary Lotte Chemical Titan amounted to 620.4 billion won and 111.7 billion won, respectively. Sales of its U.S. subsidiary LC USA were 27.5 billion won and operating losses were 25.6 billion won.

Lotte Chemical's most important task this year to secure new growth engines in the future is to acquire Iljin Materials, which produces copper foil, a key material for secondary batteries.

Lotte Chemical has decided to acquire Iljin Materials for 2.7 trillion won. The acquisition process is currently in the final stage, and the company expects it to be completed during the first quarter of this year.

 

[ⓒ AlphaBIZ. 무단전재-재배포 금지]