EVE Advanced Materials Reports Q3 Operating Profit of 2 Billion KRW, Up 158.6% Year-on-Year

[Asia Economy Reporter Jang Hyowon] EV Advanced Materials announced on the 15th that despite the prolonged semiconductor supply shortage, its operating profit for the third quarter of this year reached approximately 2 billion KRW, marking a 158.6% increase compared to the same period last year.

Sales for the third quarter of this year were about 50.9 billion KRW, a 57.20% increase from 32.4 billion KRW in the same period last year. Operating profit was approximately 2 billion KRW, showing a 158.6% growth compared to the same period last year, successfully turning a profit.

Thanks to the development achievements in Flexible Printed Circuit Boards (FPCB) and the electric vehicle business, the company achieved results exceeding 5.1 billion KRW over last year's total sales of 45.8 billion KRW within just three quarters, demonstrating a growth trend.

The somewhat slowed figures compared to the previous half-year are attributed to a decrease in production volume by suppliers (automobile manufacturers) due to the semiconductor supply shortage.

A representative from EV Advanced Materials stated, “Despite the decrease in supplier production caused by the worsening semiconductor supply shortage, we were able to focus on the core business and prepare for the crisis, resulting in actual sales growth. With the rapid increase in demand for the electric vehicle market and all-solid-state batteries, we will concentrate intensively on the all-solid-state battery business to establish ourselves as a leading company driving the future electric vehicle market.”

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