2Q 2024 Earnings Release

2Q '24 Results

Sales

(KRW Tn)

Resources

Trading/New Biz

Logistics

Profit/Loss

(KRW Bn)

3.8

3.4

4.1

1.7

1.9

1.7

1.4

1.8

1.9

0.3

0.3

0.3

2Q '23

1Q '24

2Q '24

  • YoY +0.7 (3.4→ 4.1)

▪Increase in LCD panel prices and volume ▪Increase in ocean freight rates and volume

  • QoQ +0.3 (3.8→ 4.1)

▪Increase in ocean freight rates and volume

Items

Operating

Profit

EBITD

AEBITDA

세Profit전이 Before익 Tax

Net

Profit

2Q '23

1Q '24

2Q '24

129.2 110.7 129.6

3.8% 2.9% 3.2%

205.9 198.1 219.6

6.0% 5.2% 5.4%

110.8 130.2 170.9

72.1 98.0 113.1

YoY QoQ

+0% +17%

+7% +11%

+54% +31%

+57% +15%

1/5

Resources

Results

Commodity Prices

Sales

(KRW Bn)

(U$/t)

(U$/t)

1,000

35,000

Operating Profit

288.9

286.9

281.2

800

723

720

714

778

777

30,000

53.4

32.8

600

25,000

26.2

22,393

20,342

400

18,415

20,000

2Q '23

1Q '24

2Q '24

17,208

16,589

161

148

[Operating Profit]

200

135

126

136

15,000

65

YoY △20.6 (53.4→ 32.8)

52

59

57

55

0

10,000

▪Decrease in commodity prices

2Q '23

3Q '23

4Q '23

1Q '24

2Q '24

QoQ +6.6 (26.2→ 32.8)

ICI4(L)

NEWC(L)

PTPN(L)

LME(R)

▪Decrease in production cost of mine ▪Increase in Australian coal price(NEWC)

2/5

*ICI4(Indonesian Coal): Argus, GAR 4,200kcal

*NEWC(Australian Coal): Globalcoal, GAR 6,322kcal

*PTPN(Indonesian CPO): PT Perkebunan Nusantara CPO Tender Price

*LME(Nickel): London Metal Exchange, Nickel Spot Price

Trading/New Biz

Results

Prices of major products

Sales

(KRW Bn)

(U$/t, U$, U$/MT)

400

353

Operating Profit

1,786.4

1,884.1

320

326

340

1,451.2

300

289

36.9

49.9

40.5

200

161

148

135

126

136

2Q '23

1Q '24

2Q '24

100

61

65

62

60

64

[Operating Profit]

YoY +3.6 (36.9→ 40.5)

0

▪Increase in LCD Panel, Methanol

2Q '23

3Q '23

4Q '23

1Q '24

2Q '24

prices and sales volume

QoQ △9.4 (49.9→ 40.5)

NEWC

LCD Panel

Methanol

*NEWC(Australian Coal): Globalcoal, GAR 6,322kcal

▪Decrease profit in resources trading

*LCD Panel: DSCC, 43'' FHD Price

due to weak Indonesian coal price(ICI4)

3/5

*Methanol: Platts, CFR Korea

Logistics

Results

Freight Rates

(KRW Bn)

(U$/FEU, TEU)

(P)

Sales

Operating Profit

1,700.31,702.81,908.3

38.9

34.6

56.3

2Q '23

1Q '24

2Q '24

[Operating Profit]

  • YoY +17.4 (38.9→ 56.3)

▪Increase in ocean freight rates and volume

  • QoQ +21.7 (34.6→ 56.3)

▪Increase in ocean freight rates and volume

7,000

2,628

2,500

6,000

2,038

5,076

2,000

5,000

4,177

4,000

1,500

1,065

3,156

3,000

985

988

2,554

1,000

2,000

1,881

1,836

1,424

923

500

1,000

851

784

0

2Q '23

3Q '23

4Q '23

1Q '24

2Q '24

0

USWC(L)

Europe(L)

SCFI(R)

*USWC, Europe, SCFI: Shanghai Shipping Exchange

4/5

Financial Highlights

Financial Positions

(KRW Bn)

'23

2Q '24

Assets

7,995.3

8,990.6

Cash & Cash Equivalents

1,138.9

1,107.8

Trade Receivables

1,266.5

1,653.7

Inventories

904.8

1,088.3

Investments/Intangible Assets

2,087.3

2,375.3

Others1)

2,597.8

2,765.5

Liabilities

4,920.4

5,608.8

Trade Payables

1,275.5

1,681.8

Borrowings2)

2,206.0

2,281.9

Others1)

1,438.9

1,645.1

Shareholders' Equity

3,074.9

3,381.8

Capital Stock

193.8

193.8

Surplus, etc.

2,881.1

3,188.0

Net Borrowings3)

1,031.9

1,140.8

Financial Ratio

'23

2Q '24

Total Liabilities/

160%

+6%p

166%

Shareholder's Equity

Interest Bearing

72%

△5%p

67%

Liabilities/

Shareholder's Equity

Net Interest

34%

-

34%

Bearing Liabilities/

Shareholder's Equity

  1. Others(Assets): Tangible Assets, Non-Trade Receivables / Others(Liabilities): Lease Liabilities, Non-Trade Payables
  2. Short-termBorrowings + Long-term Borrowings + Current Portion of Bonds and Long-Term Borrowings + Bonds Payables
  3. Net Borrowings = Borrowings - (Cash & Cash Equivalents + Short term financial instrument)

5/5

Balance Sheet (K-IFRS Consolidated)

Items

Assets

Current Assets

Cash & Cash Equivalents

Trade Receivables

Inventories

Other Current Assets

Non-Current Assets

Tangible Assets

Investments

Intangible Assets

Other Non-Current Assets

Liabilities

Current Liabilities

Trade Payables

Short-term Borrowings

Current Portion of Bonds and

Long-Term Borrowings

Other Current Liabilities

Non-Current Liabilities

Bonds Payables

Long-term Borrowings

Other Non-Current Liabilities

Equity

2023

1Q

2Q

3Q

4Q

8,361.6

8,358.7

8,703.0

7,995.3

4,384.3

4,381.1

4,621.1

4,033.7

1,324.0

1,213.2

1,241.5

1,138.9

1,406.4

1,311.3

1,369.9

1,266.5

742.9

940.5

1,020.5

904.8

911.0

916.1

989.2

723.5

3,977.3

3,977.6

4,081.9

3,961.6

1,439.1

1,459.2

1,526.6

1,584.1

796.5

764.9

781.9

851.7

1,418.7

1,422.1

1,445.9

1,235.6

323.0

331.4

327.5

290.2

5,256.1

5,205.8

5,481.8

4,920.4

2,995.7

2,797.6

3,125.7

2,608.4

1,225.4

1,258.9

1,450.0

1,275.5

210.2

218.0

138.8

130.9

293.2

252.6

350.3

314.0

1,266.9

1,068.1

1,186.6

888.0

2,260.4

2,408.2

2,356.1

2,312.0

469.1

668.5

668.6

668.7

1,300.9

1,241.9

1,164.2

1,092.4

490.4

497.8

523.3

550.9

3,105.5

3,152.9

3,221.2

3,074.9

[Appendix]

(KRW Bn)

2024

2Q

1Q

8,534.9

8,990.6

4,253.6

4,616.3

1,078.0

1,107.8

1,552.6

1,653.7

882.9

1,088.3

740.1

766.5

4,281.3

4,374.3

1,662.2

1,670.6

836.6

908.4

1,460.6

1,466.9

321.9

328.4

5,333.7

5,608.8

3,029.2

3,297.0

1,426.5

1,681.8

203.2

177.9

472.2

488.0

927.3

949.3

2,304.5

2,311.8

558.9

519.0

1,092.5

1,097.0

653.1

695.8

3,201.2

3,381.8

Income Statement (K-IFRS Consolidated)

Items

Sales

Cost of Sales

Gross Profit

SG&A Expenses

Operating Profit

Non-Operating Profit

Finance Income/Costs

Gain(loss) of Equity Method

Other Income and Expenses

Profit Before Tax

2023

1Q

2Q

3Q

4Q

Total

3,699.9

3,440.4

3,659.4

3,714.7

14,514.3

3,301.7

3,069.5

3,364.5

3,403.0

13,138.7

398.2

370.9

294.9

311.7

1,375.6

236.5

241.7

231.3

233.2

942.5

161.7

129.2

63.6

78.5

433.1

50.7

(18.4)

13.1

(135.6)

(90.3)

(10.2)

(18.9)

(24.7)

(43.0)

(99.5)

64.4

(1.8)

40.7

34.0

137.3

(3.5)

2.3

(0.2)

(126.6)

(128.1)

212.4

110.8

76.7

(57.1)

342.8

(KRW Bn)

2024

1Q

2Q

Total

3,776.1

4,073.6

7,849.7

3,429.1

3,693.0

7,122.1

347.0

380.6

727.6

236.3

251.0

487.3

110.7

129.6

240.3

19.5

41.3

60.8

(21.8)

(28.4)

(50.2)

32.8

69.2

101.9

8.5

0.5

9.1

130.2

170.9

301.1

Income Tax

56.0

38.7

27.7

27.0

149.4

Net Profit

156.4

72.1

49.0

(84.1)

193.4

Owners of the Parent

125.3

40.9

37.8

(87.0)

117.1

Non-Controlling Interests

31.1

31.2

11.2

2.9

76.3

* The difference between Total and quarterly sum is due to rounding. [Appendix]

32.2

57.8

90.0

98.0

113.1

211.1

80.2

90.3

170.5

17.8

22.8

40.6

Business Overview

  • Sales/Operating Profits (FY2021-FY2023)(KRW Bn)

Sales Operating Profit

18,760

Operating Profit by Division

(KRW Bn)

Resources

965.5

Trading/New Biz

Logistics

16,687

965.5 14,514

656.2

372.8

656.2

433.1

360.5

248.9

433.1

116.9

155.4

343.8

171.8

178.8

105.9

2021

2022

2023

2021

2022

2023

Resources

▪ Develop & Operate Mines

- Invest/develop/operate coal mines - Invest/develop/operate nickel mine ·Acquired AKP nickel mine in

Indonesia (Jan '24)

▪Produce Crude Palm Oil(CPO)

- Invest, develop, operate palm plantations (23,500ha) - Produce Crude Palm Oil from company-owned mill

Trading/New Biz

▪ Transaction service between buyer-seller

- Resources Trading (Coal, CPO, Nickel)

- IT Components, Petrochemicals trading ▪ Expand Eco&Green Project

- Hasang hydropower (Indonesia) - Poseung Green Power (Korea)

▪ Eco-friendlymaterials business - Acquired LX Glas (Formerly Hanglas) - Proceeding to develop EV battery materials/glass raw materials trading

[Appendix]

Logistics

▪Forwarding

- Sea: Container cargo, Bulk cargo

- Air: Sea/Air-Air linked service

- Rail: Provide service for ▪W&D Europe/Central Asia

- Operate 380 global networks - Provide Installations, Inland transportation services

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LX International Corp. published this content on 02 August 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 August 2024 04:43:05 UTC.