Kolon Industries said on the 7th that, on a consolidation basis for the second quarter, it posted sales of 1.3565 trillion won and operating profit of 98.7 billion won in a preliminary tally. Compared with the same period a year earlier, sales rose 7.8% and operating profit jumped 117.96%.
For the first half, it recorded sales of 2.593934 trillion won and operating profit of 160.664 billion won. Compared with the first half of last year, sales increased 4.17% and operating profit rose 122.42%.
The strong second-quarter results were based on expanded sales of key materials such as airbags, tire cord, and aramid, increased sales of chemical products, and even growth by brand in the fashion unit, despite greater external volatility including higher raw material costs.
In the industrial materials unit, sales of key products such as airbags, tire cord, and aramid increased from the previous quarter. In particular, tire cord improved profitability as the share of hybrid products expanded, and aramid saw higher operating rates, lifting sales from both a year earlier and the previous quarter.
In the chemicals unit, sales and operating profit both increased from a year earlier and the previous quarter, supported by stronger downstream demand for petroleum resins and higher sales of other high value-added products. CPI also contributed to profit growth as utilization improved.
In the fashion unit, recovery in fashion consumer sentiment drove steady growth across major categories such as outdoor, golf, and menswear. A stronger strategy centered on new products and operational efficiencies from organizational integration led to improved results.
A Kolon Industries official said, "Even amid ongoing external uncertainty, structural improvements through OE (operational efficiency) and diversification of the product portfolio are bearing fruit," adding, "In the second half, we will concentrate our capabilities on core businesses to lay the groundwork for continued growth."