Kolon said on the 15th that it posted consolidation-based first-quarter revenue of 1.5188 trillion won, operating profit of 98.8 billion won, and a net loss of 44.7 billion won. Compared with the first quarter of last year, revenue and operating profit each rose 7.7% and 158.3%. However, the net loss widened by 14.9 billion won, keeping it in the red.
Kolon Industries saw increases in both revenue and operating profit, fueled by results from its operating efficiency (OE) project and solid sales expansion in the industrial materials and chemical institutional sectors. Subsidiary Kolon Global reflected the completion of dwellings projects with high cost ratios and the effect of selective, profitability-focused orders.
Kolon Mobility Group expanded both revenue and operating profit on the back of strong sales of premium imported cars. Kolon Global booked 404.4 billion won in new orders in the first quarter, up 19% from a year earlier. However, a larger valuation loss on derivatives related to convertible bonds, driven by a rise in Kolon TissueGene's share price, resulted in a net loss.