Korea Zinc Company (010130) Q3 2025 earnings summary

Executive summary

• Achieved record consolidated quarterly revenue of KRW 4,160bn in 3Q25, up 8.7% QoQ and 29.7% YoY, driven by strong metal prices and robust sales volumes.

• Net profit declined sharply to KRW 71bn, down 78.5% YoY, due to rare metal price adjustments and one-off expenses.

• Profitability slightly decreased with OPM at 6.6% (down 0.2%p QoQ, up 1.9%p YoY).

Financial highlights

• Gross profit was KRW 373bn, down 4.1% QoQ but up 38.1% YoY.

• EBITDA reached KRW 367bn, up 3.9% QoQ and 53% YoY.

• Operating profit was KRW 273bn, up 5.6% QoQ and 82.3% YoY.

• Net profit fell to KRW 71bn, a 78.5% YoY decrease.

• Assets increased to KRW 15,773bn, with equity at KRW 8,035bn.

Outlook and guidance

• 4Q25 profitability expected to improve on stronger metal prices and recovery in zinc and lead TC.

• Stable earnings anticipated for rare metals despite short-term price volatility from China’s export controls.

• Demand from key industries, including automotive, expected to recover following Korea-US tariff agreement.