South Korean Lotte Chem announces net loss in Q1

South Korea’s Lotte Chemical Corp. reported a net loss of 246.3 billion won ($173 million) for the first quarter of 2025, remaining in the red from a year earlier as challenging market conditions persisted.

The company also posted an operating loss of 126.6 billion won ($89 million) for the January-March period, narrowing slightly from the 135.3 billion won loss reported in the same quarter last year.

Revenue came in at 4.9 trillion won ($3 billion), down 3.6% year-over-year, reflecting continued weakness in petrochemical demand and global economic uncertainties.

Lotte Chemical’s basic materials division, which includes its institutional business, posted an operating loss of 107.7 billion won ($78 million) on sales of 3.36 trillion won ($2 billion). While a power outage at the Daesan plant disrupted production, improved spread margins, cost reductions, and currency gains helped reduce losses.