SK Chemicals reported a fourth-quarter loss despite higher revenues, as rising costs at its subsidiaries overshadowed strong performance in its core chemicals business.
The South Korean chemical maker posted a consolidated operating loss of 29 billion won ($22 million) in Q4, compared to a profit of 5 billion won a year earlier. Quarterly revenue rose 19.2% to 514 billion won, driven by expanded sales from consolidated subsidiaries.
The company’s separate chemicals business showed resilience, with operating profit surging 93.4% to 32 billion won, supported by strong performance in its copolyester segment. The unit’s revenue increased 7.3% to 347 billion won.
The bio-science division struggled as increased competition and expanded investments led to wider losses. The unit’s operating deficit grew to 51 billion won despite a 73.1% revenue increase to 157 billion won.
Looking ahead, SK Chemicals plans to strengthen its eco-friendly portfolio through high-value products and expanding recycled materials applications. The company is focusing on developing its CR-PET recycling business while exploring new opportunities in bio-materials.
The company’s green chemicals division maintains a positive outlook for 2025, backed by growing demand for sustainable materials and expanding partnerships in recycling technologies.
