On February 4, 2022 Kureha Corporation reported (Press release, Kureha Corporation, FEB 4, 2022, View Source [SID1234607747])
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I. FY2021 3Q Results (Period April 1 – December 31, 2021)
Revenue growth driven by Advanced Materials, Specialty Chemicals and Specialty Plastics more than offsetting slower sales in Construction and Other Operations
• Higher core operating profit resulting from improved gains in Advanced Materials, Specialty Chemicals and Specialty Plastics, partially offset by a decline in Other Operations
• Operating profit increased as a result of higher core operating profit
• Profit attributable to the Company increased as a result of higher operating profit and profit before taxes
Factors attributing to changes in operating profit AM: Higher sales volumes of PVDF, PPS and other plastic products SC: Higher organic chemicals volumes
SP: Higher home products and fishing lines volumes
CO: Impact of delays in civil engineering projects, partially offset by a higher number of construction projects in the private sector
OO: Absence of post-typhoon waste treatment projects Advanced plastics PPS: Revenue up, operating profit up Increased production capacity and sales volume; an increase in equity in PPS-related affiliate earnings PVDF: Revenue up, operating profit up Higher sales volume; improved production volume for value-added specialty polymers; pricing efforts to align with rising costs for raw materials and fuels
PGA: Revenue up, operating profit down Higher frac plug sales volume; increased costs associated with the U.S. PGA manufacturing plant (due to the lack of production activity) Carbon products Revenue up, operating profit up Increased carbon fiber volumes for applications as automotive sliding materials and insulation materials for industrial highheat furnaces Other Revenue up, operating profit up Higher sales volumes of plastic products manufactured by Group companies
Agrochemicals & Pharmaceuticals Revenue up, operating profit flat Sales volume growth for agrochemical fungicides and a therapeutic agent for chronic kidney failures (‘Kremezin’); impact of mandatory drug price revisions; higher raw material costs Industrial chemicals Revenue up, operating loss narrowed Sales of organic chemicals and other key products recovered in the industries resuming production activities