Feb 01, 2023 / 01:00AM GMT
Unidentified Company Representative -
Good morning, everyone. This is [K.D. Bang], the Treasurer of S-Oil. I would like to extend my gratitude to investors and analysts for your attention to S-Oil's conference call for Q4 2002 (sic) earnings results. For this conference call, CFO, J.W. Bang, IR Team Leader, J.W. [Ahn], and team members joined.
First, I will take you through the highlights of our fourth quarter results. S-Oil recorded a negative KRW 157.5 billion in operating income and KRW 332.6 billion in income before tax in Q4 last year. Throughout the whole year 2022, the company achieved KRW 3,408.1 billion in operating income and KRW 2,901.5 billion in income before tax, which are the highest record in the company's history. KRW 157.5 billion in Q4 is one-off operating loss generated mainly due to inventory effects on the back of reduced international oil price. The Refining and Lube margin, which have been driving the company's profitability lately, remained healthy in Q4 and into this year as well.
On the non-operating side, the company posted a huge FX gain despite fluctuating $1 rate
Q4 2022 S-Oil Corp Earnings Call (English, Korean) Transcript
Mar 12, 2024
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