[Click eStock] "Samsung Electro-Mechanics, Expecting Increased Battery Sales for Electric Vehicles in the Second Half"

[Asia Economy Reporter Eunmo Koo] DB Financial Investment reported that Samsung Electro-Mechanics achieved better-than-expected performance in the second quarter of this year due to the strong performance of small secondary batteries. It is analyzed that batteries for electric vehicles (EV) will contribute to the overall performance in the second half of the year.

Samsung SDI recorded sales of 2.5586 trillion KRW in the second quarter of this year, a 6.4% increase compared to the same period last year, while operating profit decreased by 34.0% to 103.8 billion KRW. The small secondary batteries showed better-than-expected results. Sungryul Kwon, a researcher at DB Financial Investment, explained in a report on the 29th, “Sales of cylindrical batteries in small secondary batteries increased by more than 30%, offsetting the decline in polymer battery sales, leading to better-than-expected profitability improvement. Electronic materials also achieved better-than-expected results due to strong sales of polarizing films for tablets and notebook PCs and recovery in demand for large TVs.” He added, “ESS is estimated to have turned profitable as domestic demand recovered and overseas sales increased mainly through power projects in the Americas.”

It is now a time to expect the active performance of EV batteries. Researcher Kwon forecasted, “EV batteries, which were somewhat quiet in the first half, will contribute to overall performance improvement as sales increase significantly in the second half. With the launch of new PHEV and EV models and the expansion of electric vehicle support policies in Europe, EV battery sales in the second half are expected to increase by more than 50% compared to the first half.” Accordingly, medium and large batteries are expected to turn profitable in the fourth quarter.

This content was produced with the assistance of AI translation services.