POSCO Future M Achieves Quarterly Record Sales with Expanded Cathode Material Sales

POSCO Future M announced on the 24th that it recorded consolidated sales of 1.2858 trillion KRW and an operating profit of 37.1 billion KRW in the third quarter. This is the highest quarterly sales to date.

The battery materials business saw sales increase by 13.1% from the previous quarter to 953.2 billion KRW, driven by expanded sales of high-nickel cathode materials, including the world's first commercially successful high-performance single-crystal cathode materials for electric vehicles.

Exterior view of the secondary battery material complex. Photo by POSCO Future M

However, operating profit fell by 41.7% compared to the previous quarter to 21.8 billion KRW due to declines in metal prices such as lithium and nickel.

The basic materials business recorded sales of 332.6 billion KRW and an operating profit of 15.3 billion KRW.

POSCO Future M began mass production of high-nickel single-crystal cathode materials in March and is actively pursuing additional orders by building a portfolio to meet diverse needs. Recently, the cathode materials market has seen growing demand for single-crystal cathode materials, which offer higher stability and longer lifespan compared to conventional polycrystalline cathode materials.

POSCO Future M plans to mass-produce and supply single-crystal cathode materials exclusively applied to maximize the stability and lifespan of electric vehicle batteries by 2026. In addition, it is developing products that consider diversified market demands, including price-competitive cathode materials for LFP batteries, as well as high-voltage mid-nickel (Mid-Ni) and manganese-rich (Mn-Rich) materials.

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