Samsung SDI Reports Record Quarterly Revenue of 3.3343 Trillion KRW in 2Q This Year
[Asia Economy Reporter Suyeon Woo] Samsung SDI recorded sales of 3.3343 trillion KRW in the second quarter of this year, achieving the highest quarterly sales ever. This was due to a significant improvement in profitability in the battery business sector, including the automotive battery division turning profitable.
On the 27th, Samsung SDI announced that it posted sales of 3.3343 trillion KRW and an operating profit of 295.2 billion KRW in the second quarter of this year. Compared to the same period last year, sales increased by 30.3%, and operating profit surged by 184.4%.
Compared to the first quarter, the increase in sales of medium and large batteries was notable. In particular, automotive batteries turned profitable for the quarter as profitability improved due to expanded sales to major European customers. ESS sales increased mainly due to power projects in the Americas. For small batteries, sales of cylindrical batteries expanded with increased supply for new electric vehicle projects, and sales of pouch batteries used in flagship smartphones also increased.
Sales of electronic materials amounted to 622.5 billion KRW, down 2.4% year-on-year but up 8.0% compared to the previous quarter. Semiconductor materials continued steady sales growth quarter-on-quarter, and OLED materials saw increased sales due to growing demand for smartphones. Polarizing films expanded sales due to increased demand for large LCD TVs.
Meanwhile, Samsung SDI expects balanced performance growth across all business sectors in the second half of the year. Sales of medium and large batteries are expected to expand, especially automotive batteries, which are anticipated to improve profitability with the start of supply for new models and increased sales. ESS sales are expected to grow in Europe and Asia.
Small batteries are also expected to continue growing in the second half. Cylindrical batteries are expected to see full-scale sales for electric vehicles and continued growth in sales for key applications such as power tools, vacuum cleaners, and electric bicycles. Pouch batteries are also expected to increase sales with the launch of new smartphones.
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The electronic materials sector is expected to see sales growth centered on semiconductor and OLED materials. Samsung SDI anticipates that semiconductor materials sales will grow due to customer expansions and increased wafer input, and OLED materials sales will also increase with the expanded adoption of OLED panels in new smartphones.
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