- 2nd quarter sales reached KRW 435.7 billion, with an operating profit of KRW 86.1 billion 51.1% increase in sales, 387.9% increase in operating profit compared to the previous year
- Operating profit recorded KRW 159.1 billion in the 1st half, exceeding all of last year’s operating profit
SK chemicals (CEO: Jeon Kwang-hyun) again reached record-high quarterly performance in the 2nd quarter.
SK chemicals announced on the 9th that consolidated sales reached KRW 435.7 billion with an operating profit of KRW 86.1 billion in the 2nd quarter of this year; compared to the same period last year, sales increased by 51% and operating profit by 388%. On a quarterly basis, both sales and operating profit were record highs.
SK chemicals explained that the company continued its record-breaking quarterly performance thanks to the steady growth of all business divisions and the strong performance of SK bioscience’s vaccine business.
In the copolyester business of the green chemical division, sales increased due to continuous development of new uses and expansion of customers, but profits decreased. Copolyester sales increased 5% from the same period last year (KRW 132.7 billion) to KRW 139.7 billion, but operating profit decreased 15% (KRW 22.3 billion) to KRW 19 billion due to an increase in raw material prices and sea export freight rates resulting from rising oil prices.
The pharmaceutical business in the life sciences division recorded sales of KRW 78 billion and an operating profit of KRW 8.8 billion in the 2nd quarter. While sales of existing products remained sound, thanks to the company’s expanded portfolio of newly introduced products, sales increased by 23% compared to the same period last year. SK bioscience’s sales reached KRW 144.6 billion and generated an operating profit of KRW 66.2 billion in the 2nd quarter thanks to the COVID-19 vaccine contract manufacturing organization (CMO) and strong performances in other business areas. This 267% increase in operating profit compared to the same period last year lifted SK bioscience’s bottom line into positive territory.
An SK chemicals official said, “In the 3rd quarter, favorable earnings growth is expected to continue thanks to an increase in the sales volume of copolyester, which started full-fledged operations at the new manufacturing facility, and the expansion of the pharmaceutical product lineup.” The official added, “SK bioscience is forecast to increase sales and continue generating profits through the COVID-19 vaccine business.”
In addition to quarterly best results, SK chemicals is broadening its commitment to ESG management. SK chemicals, which declared this year as the 1st year of ESG management, set goals such as ▲ reorganizing its business portfolio to be bio∙eco-friendly by 2030 ▲ reduce greenhouse gas emissions by 50%, and ▲ achieve net-zero emissions by 2050 in the sustainability report published in July. To this end, SK chemicals is concentrating on the expansion of its chemical recycling product portfolio while strengthening its ESG business by signing an MOU with SamDaSoo, an established bottled water brand in Korea, and building a PET bottle recycling ecosystem.