The company recorded third-quarter net sales that were up 0.4% from the prior year. The company expects the next quarter consolidated sales to be approximately flat compared to prior-year record results.
"We delivered significant year-over-year cash flow improvement in 2023, including a strong fourth quarter finish, which underscores our ongoing prioritization of working capital management," said Ed Breen, DuPont Executive Chairman and Chief Executive Officer.
Highlights of the results include a net sales increase of 4.9% year-over-year to $1.3 billion, a net income increase of $30 million year-over-year to $74 million, and an adjusted EBITDA increase of $43 million year-over-year to $251 million.
Highlights of the report include a 12% volume growth and 5.5% value growth in the company's Decorative Business segment in addition to showing a consistent double-digit volume growth trend on a four-year CGR basis.
Fiscal 2024 sales were a second-quarter record and were in addition to strong growth in the prior-year period when sales increased 9.3%. Pricing was positive in all segments as they catch up with cost inflation.
Consolidated sales in Q2/2023 totaled 269,232 million KRW, gross profit margin was 8.3%-points lower in Q2/2023 than in Q2/2022, and net profit in Q2/2023 was 11,956 million KRW.
Compared with the same period last year, adjusted EBITDA fell by 38 percent. Evonik already published preliminary figures for the second quarter on July 10.
