Solus Advanced Materials, 3Q Operating Profit 3.8 Billion KRW... 49% Decrease YoY

[Asia Economy Reporter Jeong Hyunjin] Solus Advanced Materials announced on the 9th that its third-quarter sales for this year were tentatively estimated at 104.5 billion KRW, with an operating profit of 3.8 billion KRW.

Sales increased by 41% compared to the same period last year and by 13% compared to the previous quarter, marking the highest performance for three consecutive quarters since the first quarter of this year. Operating profit decreased by 49% compared to the same period last year but increased by 81% compared to the previous quarter. Solus Advanced Materials explained that the operating profit declined compared to a year ago due to increased costs from the full-scale operation of the Hungarian battery copper foil plant, which began mass production in November last year.

Looking at each division, the Battery Copper Foil Division (Battery Copper Foil Headquarters and Copper Foil Headquarters) recorded a quarterly sales record of 67.5 billion KRW in the third quarter. The Copper Foil Headquarters, which holds a portfolio of copper foil for 5G, semiconductors, smart chips, and aerospace, achieved stable sales of high-margin high-end copper foil, and the Battery Copper Foil Headquarters increased its sales contribution due to the rising operating rate of the production line at the first plant in Hungary.

The Advanced Materials Division (Electronic Materials Headquarters and Bio Business Headquarters) also achieved a record quarterly sales of 37 billion KRW. The production of key materials for LG Display's organic light-emitting diode (OLED) TVs and the expansion of sample supply contributed to the performance, while strong sales of ceramide materials used by top-tier domestic and international customers in the Bio Business Headquarters also supported the results.

Solus Advanced Materials expects the steady sales growth across all business divisions to continue into the fourth quarter. A representative of Solus Advanced Materials stated, "We will maintain the growth trend through solid internal growth supported by continuous investment in the battery copper foil business, development of new high-end copper foil materials, diversification of electronic material items, and diversification of bio material applications across each business division."

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