Enchem (A348370) Q3 2024 earnings summary

Executive summary

• Consolidated financial statements for the nine months ended September 30, 2024, were reviewed and found to be fairly presented under Korean IFRS 1034, with no material misstatements identified.

• The company operates globally in electronic materials, primarily electrolytes, with subsidiaries in Korea, China, the US, Poland, Hungary, Indonesia, France, and Canada.

Financial highlights

• Revenue for the nine months ended September 30, 2024, was ₩287.9 billion, down from ₩372.9 billion year-over-year.

• Operating loss for the period was ₩382.2 billion, compared to an operating profit of ₩23.6 billion in the prior year.

• Net loss attributable to controlling interests was ₩364.8 billion, versus net income of ₩17.4 billion year-over-year.

• Total assets increased to ₩1,134.3 billion from ₩862.9 billion at the end of 2023.

• Cash and cash equivalents at period-end were ₩56.8 billion, up from ₩44.6 billion at the previous year-end.

Outlook and guidance

• Management believes the company has sufficient liquidity and capital resources to meet obligations and support ongoing operations and investments.

• No significant risks identified that would materially impact financial performance as of the reporting date.