Lotte Innovate's shares have surged more than 10% following the announcement of strong second-quarter earnings.
According to the Korea Exchange, as of 2:30 PM, Lotte Innovate's stock was trading at 17,640 won, up 1,610 won (10.04%) from the previous trading day. The company started the day on a weak note but began to gain momentum after announcing its Q2 results at 10:10 AM.
Lotte Innovate reported a consolidated operating profit of 12.4 billion won for the second quarter of this year, a 54% increase compared to the same period last year. Revenue for the same period remained stable at 274.5 billion won, while the operating profit margin rose by 1.7 percentage points to 4.5%.
The company attributed its improved performance to selective orders focused on profitability, enhanced project execution efficiency, and the recovery of profits from key subsidiaries.
Lotte Innovate is also expanding its medium- to long-term growth initiatives. The company plans to strengthen its business in data center design, construction, and operation (DBO) and artificial intelligence transformation (AX), while actively targeting AX demand from both group companies and external clients using its own AI platform, 'iMember,' and external generative AI.
A Lotte Innovate representative stated, "We will continue our profitability-focused management approach while actively commercializing future growth businesses such as data center DBO and AX to solidify our sustainable growth foundation."
* This article has been translated by AI.
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