[Alpha Biz= Reporter Paul Lee] Lotte Fine Chemical announced on the 29th that it posted sales of 399.4 billion won and operating profit of 10.8 billion won in the first quarter of this year. Compared to the same period last year, sales fell 23.9% and operating profit fell 74.3%.
By business sector, sales in the chemical business sector fell 28.7 percent on-year to 280 billion won. It accounts for 70% of the total sales. Sales of chlorine products fell 7.7% QoQ, with sales of chlorine products falling and international prices weakening. Lotte Fine Chemical said its sales are expected to decline in the second quarter due to weak international prices and a drop in sales of some products.
Sales in the green materials business fell 9.7% year-on-year to 119.4 billion won. It is an increase of 10.5% compared to the previous quarter. This is due to the sale of some of the industrial product expansion. Operating profit decreased due to rising costs. Lotte Fine Chemical plans to increase its sales in the second quarter with aggressive sales strategies.
In order to improve profitability, Lotte Fine Chemical has started to expand the world's No. 1 semiconductor development fluid raw material TMAC and edible cellulose materials. It is also planning to improve its business portfolio focusing on high value-added specialties by launching a clean hydrogen ammonia business in earnest.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
