[Alpha Biz=(Chicago) Reporter Kim Jisun] LX International announced that its consolidated operating profit last year was 433.1 billion won, down 55.1% from the previous year.

Sales fell 22.6% over the same period to 14.5143 trillion won. "The base effect occurred as resource market conditions and logistics fares, which were very strong in 2022, showed a downward trend due to the global economic slowdown last year," a company official said.

For its future revenue base, the company has a virtuous cycle structure that invests liquidity generated from existing business profitability such as coal, farms, and trading in strategic fostering areas such as secondary battery minerals and materials. The company plans to continue to secure additional assets under consideration, including mines and refineries, starting with the Indonesian AKP nickel mine, which completed the acquisition process last month.

The company has focused on coal business, but plans to switch to secondary battery-related minerals such as nickel and lithium.

 

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