Mplus, Improved Performance Expected Due to Increase in New Orders

[Asia Economy Reporter Hyungsoo Park] KB Securities forecasted on the 21st that Mplus's performance will improve due to aggressive expansion by client companies and diversification of customers and products.

Researcher Sangguk Lim of KB Securities explained, "Although it varies depending on the delivery equipment, it usually takes 9 to 12 months from order receipt to revenue recognition," adding, "The order backlog is increasing, with 159.9 billion KRW at the end of last year and 210.8 billion KRW in new orders last month."

He continued, "SK On, the main sales client, plans to expand its secondary battery production capacity to about 180GWh and a total of 120 lines over the next four years," and added, "Typically, equipment orders worth 9 to 10 billion KRW can be placed per line."

Furthermore, he emphasized, "Assuming an annual order share of 50% from SK On, annual sales exceeding 150 billion KRW are expected."

Researcher Lim analyzed, "Since last year, we have been diversifying customers and products," and noted, "We secured orders for prismatic pilot lines from Europe's largest battery company and a new electric vehicle company in the United States."

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