Huvis records KRW 305.9 billion in consolidated sales and KRW 9.4 billion in operating profit in Q3 2015. In the early stages of recovery following the shock in Q2, operating profit increased QoQ.
 
On October 28, chemical materials company Huvis (CEO Baekeun Yoo, 079980) announced its preliminary results and announced that its Q3 2015 sales are expected to amount to KRW 305.9 billion, with an operating profit of KRW 9.4 billion and net income of KRW2.9 billion. (consolidated). Sales and operating profit increased by 5% and 19% respectively QoQ (Q2 2015), but pre-tax income and net income decreased by 43% and 55% respectively. When compared to Q3 2014, sales and operating profit declined by 11% and 28% respectively, while pre-tax income and net income dropped by 46% and 67% respectively.
 
An official from Huvis stated, “In the process of restoring the profitability that had deteriorated by the short-term overheated competition due to new entries in the LMF market, which is our main product, our operating profit improved slightly QoQ.”
 
He added, “As the selling prices went down due to the drop in raw materials from the previous year and the recession of the chemical fiber sector continued, our sales and operating profit decreased YoY, but we are making efforts to improve profitability by increasing sales of high value-added products and diversifying our business, e.g. the water treatment business of Huvis Water.”
 
Meanwhile, according to Huvis, its debt ratio as of the end of Q3 was 123%, down 11% from 134% at the end of 2014. Its overall financial structure has become healthier.