LX International (001120) Q3 2024 earnings summary

Executive summary

• Achieved significant year-over-year growth in sales and profitability for 3Q 2024, driven by higher ocean freight rates, increased trading volumes, and strong performance across all business segments.

• Operates across resources, trading/new growth, and logistics, with 93 consolidated subsidiaries globally as of Q3 2024.

• Major business segments: resources (7.0% of sales), trading/new growth (46.1%), logistics (46.9%).

• Maintains strong credit ratings (AA-) for both company and major subsidiaries.

Financial highlights

• Q3 2024 consolidated revenue: ₩12,409,934 million, down from ₩14,514,350 million in FY2023.

• Net income for Q3 2024: ₩331,879 million, up from ₩193,359 million in FY2023.

• Basic EPS for Q3 2024: ₩7,106, compared to ₩3,255 in FY2023.

• Cash and cash equivalents at Q3 2024: ₩1,051,627 million.

• Gross profit for 3Q 2024 was KRW 404.1 billion, up from KRW 294.9 billion in 3Q 2023.

Outlook and guidance

• Actively pursuing new investments in high-growth areas such as nickel mining and battery materials.

• Ongoing portfolio diversification with recent acquisitions in glass manufacturing and biomass power.

• Focus on stable supply chain, global expansion, and ESG-driven business development.

• Continued focus on expanding resources trading, logistics, and eco-friendly projects, including hydropower and green power initiatives.