Lotte Chemical Titan 2Q Net Loss Widens To RM174.2 Mln, Revenue Up 116 Pct

KUALA LUMPUR, Aug 6 (Bernama) -- Lotte Chemical Titan Holding Bhd’s net loss widened to RM174.2 million in the second quarter (2Q) ended June 30, 2026, from RM173.08 million in the same quarter a year ago.

Revenue for the quarter under review, however, rose to RM3.10 billion from RM1.43 billion.

“Revenue increased by 116 per cent or RM1.67 billion, mainly driven by contribution from Lotte Chemical Indonesia New Ethylene (LINE) project, which commenced commercial operations in October 2025 as well as the higher average selling price for the quarter.

“This was partially offset by the weakening of the US dollar against the ringgit,” it said in a Bursa Malaysia filing today.

The group recorded an average plant utilisation of 50 per cent, compared with 46 per cent in the corresponding quarter.

This improvement is mainly attributable to the additional production from the LINE project.

Its chairman and chief executive officer, Jang Seon Pyo, said Lotte Chemical’s business continues to be affected by global geopolitical tensions and macroeconomic uncertainties, resulting in a challenging operating environment.

These conditions have disrupted global supply chains, weighed on market sentiment, and contributed to volatility in crude oil, naphtha prices and average selling prices.

“In addition, regional markets continue to face supply-demand imbalances and pricing pressures as capacity additions outpace demand growth.

“We will closely monitor the geopolitical and market developments, and adapt our operations to achieve our business objectives and meet stakeholders’ expectations,” he said.

-- BERNAMA