Hyosung Advanced Materials' operating profit down 45% in 2023

Hyosung Advanced Materials announced on Monday that its operating profit for last year on a consolidated basis was 172.4 billion won ($129 million), down 45 percent from the previous year.

Revenue fell 17% year-on-year to 3.20 trillion won. Net profit fell 70% to 47.3 billion won.

Operating profit for the fourth quarter of last year was 20.8 billion won, down 58% from the same period a year earlier.

Revenue and net loss for the same period were 768.2 billion won and 9.4 billion won, respectively.

The fourth quarter operating profit was 49% below the average market forecast of 41 billion won.

Write to Hyung-Kyu Kim at khk@hankyung.com