S-Oil Corp (XKRX:010950)
â‚© 67900 100 (0.15%) Market Cap: 7.83 Til Enterprise Value: 12.03 Til PE Ratio: 9.30 PB Ratio: 0.88 GF Score: 90/100
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Q2 2022 S-Oil Corp Earnings Call (English, Korean) Transcript

Jul 28, 2022 / 01:00AM GMT
Release Date Price: â‚©91300 (-1.83%)
Unidentified Company Representative

[Interpreted] Good afternoon, everyone. This is [Katy Kang], the Treasurer of S-Oil. I'd like to extend my gratitude to our investors and analysts for your attention to S-Oil's Conference Call for Q2 Earnings Results. For this conference call, our CFO, JW Bang; IR Team Leader, [JW Ahn] and the team members joined.

First, I will take you through the highlights of our second quarter results. S-Oil achieved KRW 1.72 trillion of operating income in Q2 2022, thanks to greatly improved profitability of all business segments, including refining, petrochemical and lube base oil. Quarter-on-quarter income increased significantly by 29%. Due to the recent outlook for global recession and the high oil price, there are concerns over sluggish demand. However, demand for refining products is resilient enough to recover to pre-pandemic level.

As demand recovery for jet fuel is maintained at satisfactory level, global demand growth for oil is expected to hover above pre-pandemic level, this and the next year. Moreover, unprecedented strike in second quarter refining margin,

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