LX International (001120) Q4 2024 earnings summary

Executive summary

• Achieved annual sales of KRW 16.6T in 2024, up 14% year-over-year, with operating profit rising 13% to KRW 489.2B and net profit up 39% to KRW 269.5B.

• Fourth quarter sales were KRW 4.2T, with operating profit of KRW 94.2B, impacted by one-off impairment losses on intangible assets.

• Growth driven by increased resources trading volume, higher CPO prices, and consolidation of the AKP nickel mine.

Financial highlights

• Annual EBITDA increased 14% year-over-year to KRW 852.9B.

• Q4 net profit was impacted by a one-off impairment loss of KRW 126.3B on intangible assets.

• Profit before tax for the year rose 34% to KRW 460.4B.

• Q4 net profit turned to a loss due to impairment, despite operating profit growth year-over-year.

Outlook and guidance

• Continued focus on expanding resources and eco-friendly projects, including further mineral mine acquisitions and green power initiatives.

• Ongoing development in EV battery materials and glass raw materials trading.