LOTTE Chemical Full-Year Report 2022
- The basic materials business recorded 3 trillion 167 billion KRW in revenue and 285.7 billion KRW in operating losses. As oil prices gradually stabilized, the burden for material prices slightly eased, but it had low profitability due to a drop in demand as the global economy continued to stay slow.
- The advanced materials business recorded 1 trillion 79.4 billion KRW in revenue and 32 billion KRW in operating profits. Revenue dropped slightly compared to the previous quarter due to decreased product demand, but as the prices of major raw materials stabilized and marine transportation costs dropped, profitability improved.
- The subsidiary LOTTE Chemical Titan recorded 620.4 billion KRW in revenue and 111.7 billion KRW in operating loss. Drop in product prices and weak demand resulted in low profitability.
- The subsidiary LC USA recorded 207.5 billion KRW in revenue and 25.6 billion KRW in operating loss. Stabilized prices of the raw material ethane eased price burdens, but the industry continued to stay slow due to global MEG supply issues.
