Aug. 2, 2022 - In the three-month period ended June 30, 2022, increasingly strong downward pressure was placed on the global economy by factors including Russia’s military invasion of Ukraine, the economic sanctions placed on Russia in response to this act, and the lockdowns instituted in cities in China associated with the COVID-19 spread.

Ongoing need to monitor impact factors such as resumed increase in COVID-19 cases and concern for economic recession due to reduced demand stemming from monetary tightening of central banks worldwide and continuously high inflation.

Revenue in the three-month period ended June 30, 2022, was up year on year following increases in revenue in the Metals, Mineral Resources & Recycling Division, a result of higher prices for coal; in the Consumer Industry & Agriculture Business Division, a result of higher lumber transactions; and in the Chemicals Division, a result of higher methanol prices.

Profit for the period (attributable to owners of the Company) was up year on year, despite a rise in SG&A expenses associated with the acquisition of new consolidated subsidiaries, following an increase in gross profit and an increase in share of profit of investments accounted for using the equity method attributable to earnings growth at a steel operating company.

Segment Performance (Profit for the Period attributable to owners of the Company) (Cumulative)