In the third-quarter of 2023, Westlake achieved quarterly net sales of $3.1 billion, quarterly net income of $285 million and quarterly EBITDA (earnings before interest expense, income taxes, depreciation and amortization) of $682 million.
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.
The results show consolidated net sales increased 6.3% in the quarter to a record $6.24 billion, and net sales from stores in United States and Canada open more than 12 calendar months increased 9.5% in the quarter, among other key takeaways.
"Overall, we have recorded significant improvement in margins, both sequentially as well as on year‐on‐year basis, aided by strong efforts on driving operational, formulation and sourcing efficiencies and supported by easing inflation in raw material prices,”said Amit Syngle, Managing Director & CEO of Asian Paints Limited.
This marks the company’s 500th consecutive dividend payment. Through the ongoing dedication and engagement of its workforce, the company has paid uninterrupted annual dividends since 1899.
