Samsung Bussan Trading Division's third quarter operating profit rose 50.9% year-on-year due to strong solar business

Samsung C&T's trading division announced on the 25th that operating profit for the third quarter of this year was 89 billion won (approximately 9.8 billion yen), an increase of 50.9% from the same period last year.
The company achieved operating profit higher than the 73 billion won (approximately 8.1 billion yen) expected by the securities industry. Sales decreased by 32.3% to 3,254 billion won (
Approximately 361 billion yen). A company official explained, ``Profits have improved due to the strong performance of operating business sites such as the Otelinox Steel Precision Materials Plant, and the expansion of the solar power development business.'' Earnings
The company stated that the decrease in sales was due to the effects of low-profit items and improvements in customer efficiency. The solar power development business earned a sale profit of $6.5 million (approximately 975 million yen) in the U.S. market in the third quarter of this year.
recorded a profit. On a cumulative basis for the third quarter, the company achieved $33.5 million (approximately 5 billion yen), an increase from the sales profit for the entirety of 2021 two years ago ($22 million, approximately 3.3 billion yen).
The company is developing a growth strategy centered on eco-business. In the solar business, we are diversifying our profit model, and in the waste battery recycling market, we are developing a battery materials trading business.
The company plans to explore a variety of business opportunities, including regional development. A company official said, ``We expect a harsh external environment, including increasing global uncertainty and a general downward trend in raw material prices.
"Our policy is to maintain internal management centered on profitability based on bottom-line risk management."