Lotte Energy Materials Swings to Annual Loss in 2023

SEOUL—For the fiscal year 2023, Lotte Energy Materials Corp. reported a net loss of 49.3 billion won (US$36.9 million), marking a downturn from the previous year's profit of 49 billion won.

According to Yonhap News Agency, the company's operating profit for the year stood at 12 billion won, a significant reduction from 84.8 billion won in the preceding year. Despite the loss, the company's annual revenue saw an increase, rising 10.9 percent to 809 billion won.

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