█ 2020 Q3 revenue 3.0455 trillion KRW, operating profits 193.8 billion KRW
█ Compared to previous quarter, revenue increased by 13.5% and operating profits by 489%

LOTTE Chemical (CEO Kyo Hyun Kim) announced that it posted 3.0455 trillion KRW in revenue and 193.8 billion KRW in operating profits in its tentative 2020 Q3 performance (consolidated) on the 6th. Compared to the previous quarter, revenue increased by 13.5% and operating profits by 489%.

LOTTE Chemical stated, “Demand is normalizing as the global economy that slowed due to COVID-19 began to recover,” and announced, “We achieved higher performance than the previous quarter due to low raw materials costs and expanded product spread."

The 2020 Q3 performance of LOTTE Chemical and its major subsidiaries are as follows.
The olefin business department within the basic materials business recorded revenue of 1.2186 trillion KRW and operating profits of 79 billion KRW, and the aromatics business department posted 376.1 billion KRW in revenue and 5.5 billion KRW in operating profits. The market is improving centering on the Chinese market and as there is strong demand for sanitary products such as masks and vinyl screens, profitability improved.

The advanced materials business recorded 863.3 billion KRW in revenue and 99.5 billion KRW in operating profits. The global spread of the no-contact culture and increased demand for home appliances resulted in expanded spread of ABS products and higher profitability.

LOTTE Chemical Titan recorded 544 billion KRW in revenue and 48.1 billion KRW in operating profits. Once the local movement restrictions were lifted after the onset of COVID-19, demand for major products improved and due to the strong demand for sanitary products and packaging materials, strong profitability was maintained
LC USA recorded 64.4 billion KRW in revenue and 22.3 billion KRW in operating profits. There were operating deficits due to having to stop the factory for about 50 days due to hurricanes Laura and Delta, in addition to the weak product market.

Regarding Q4 performance, LOTTE Chemical stated, “It is expected that strong performance will continue due to increased demand for home appliances and living products as the global economy recovers and the no-contact trends continue. Plans are to resume operation of Daesan Plant within the year and we plan to expand specialty materials that respond to new market demands and strengthen product development to expand a virtuous circulation system of plastic.”