Lotte Energy Materials Reports Q3 Revenue of 217.7 Billion KRW and Operating Profit of 3 Billion KRW

Lotte Energy Materials Iksan Plant exterior. Photo by Lotte Energy Materials

Lotte Energy Materials announced on the 7th that despite the slowdown in demand in the electric vehicle market, its differentiated product technology and long-term supply contracts helped achieve provisional Q3 results (consolidated basis) with sales of 217.7 billion KRW and operating profit of 3 billion KRW this year.

Lotte Energy Materials saw a steady increase in copper foil sales volume, resulting in Q3 sales rising about 10% compared to 198.2 billion KRW in Q2, achieving the highest quarterly sales. Operating profit slightly increased to 3 billion KRW compared to the previous quarter. Additionally, cash equivalents at the end of Q3 amounted to 519.9 billion KRW, up 150.4 billion KRW from Q2, and the debt ratio remained low at 22.6%, maintaining strong financial stability.

Lotte Energy Materials expects Q4 performance to improve further through continuous corporate management innovation activities. The company plans to diversify stable demand from major clients and new customers based on newly introduced and reflected systematic work processes. This is anticipated to lead to increased operating rates and sales volume in Q4, thereby improving profitability.

A representative from Lotte Energy Materials stated, "Although demand in the upstream industry is slowing, copper foil production volume and the proportion of high-end products continue to increase," adding, "We will strengthen our position as the first vendor for various customers and establish long-term management goals to expand profitability."

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