LX International more than doubled its operating profit in the third quarter of this year, driven by rising coal prices and strong logistics performance. The increase in resource trading volume and higher shipping rates contributed to improved profitability, with cumulative operating profit for the first three quarters exceeding last year's total.
On November 4, LX International announced that it recorded consolidated sales of 5.1872 trillion won and an operating profit of 143.1 billion won for the third quarter. These figures represent increases of 15.1% and 120.8%, respectively, compared to the same period last year. Compared to the previous quarter, sales rose by 8.6% and operating profit increased by 21.5%.
For the first three quarters of this year, cumulative operating profit reached 369.8 billion won, already surpassing last year's total operating profit of 292.2 billion won.
The improvement in performance was influenced by rising resource prices and shipping rates. The Indonesian coal price index, ICI4, increased by 61.9% year-on-year, boosting sales prices at GAM mines and resource trading revenues. The Shanghai Containerized Freight Index (SCFI) also more than doubled, supporting logistics performance through increased cargo volume.
This performance reflects simultaneous increases in trading volumes and prices in the resource and logistics sectors, suggesting that future profitability may be affected by fluctuations in coal prices and shipping rates.
LX International plans to enhance the profitability of its existing thermal coal and nickel businesses while expanding its resource portfolio to include copper and bauxite. The company aims to gradually scale up its palm business and explore new opportunities in biomass, renewable energy, and food sectors.
An LX International official stated, "We will flexibly respond to changes in market conditions while strengthening our stable revenue base and long-term growth drivers."
* This article has been translated by AI.
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