LX International (001120) Q1 2025 earnings summary

Executive summary

• Q1 2025 sales reached KRW 4,048.3 billion, up 6% year-over-year but down 5% sequentially from Q4 2024.

• Operating profit was KRW 116.9 billion, up 6% year-over-year and 24% sequentially.

• Net profit reached KRW 110.4 billion, a 13% year-over-year increase, rebounding from a loss in the previous quarter.

• Logistics contributed 49.6% of sales, trading/new growth 42.8%, and resources 7.6%.

• Major customer LG Electronics accounted for 25% of total sales.

Financial highlights

• EBITDA for Q1 2025 was KRW 212.8 billion, up 7% year-over-year and 13% sequentially.

• Gross profit for Q1 2025 was KRW 373.6 billion, with a gross margin of 9.2%.

• SG&A expenses were KRW 256.7 billion, down from KRW 281.1 billion in Q4 2024.

• Cash and cash equivalents at quarter-end were KRW 1,185.6 billion.

• Total assets increased to KRW 9,141.1 billion, and total equity to KRW 3,333.3 billion.

Outlook and guidance

• Increased logistics volume and higher production from key mining assets are expected to support future growth.

• Ongoing expansion in eco-friendly and green projects, including hydropower and EV battery materials.

• Focus on expanding nickel and battery materials investments in Indonesia and diversifying with new growth businesses.

• Continued emphasis on logistics and trading, with stable demand expected in key sectors.