EM&I Reports 20 Billion KRW in Cumulative Q3 Sales... "Expecting Two Consecutive Years of Profitability Amid OLED Market Recovery"

Organic Light Emitting Diode (OLED) material company EM&AI is expected to achieve positive operating profit for the second consecutive year.

On the 14th, EM&AI announced that its cumulative sales and operating profit on an individual basis for the third quarter of this year were 18.4 billion KRW and 100 million KRW, respectively. Net profit for this period was 700 million KRW.

On a consolidated basis for the third quarter, cumulative sales reached 20 billion KRW, while operating loss and net profit for the same period were 200 million KRW and 600 million KRW, respectively.

A company representative stated, "Operating profit fell short of expectations due to decreased sales caused by sluggish market conditions in the first half and increased one-time expenses in the third quarter. From the fourth quarter onward, we will focus on accelerating new business initiatives currently underway and increasing sales based on stable management rights."

In the extraordinary general meeting held last September, EM&AI added business objectives including distribution and sales of electric two-wheelers, electric vehicle batteries, and recycling. At the extraordinary general meeting held on the 3rd of this month, the company added "manufacturing, processing, and sales of toxic substances and copper-related products" to supply heavy water (D2O) domestically.

EM&AI plans to contribute to establishing a stable supply chain in the OLED display industry after receiving domestic supply approval for heavy water required in the OLED process from the Heavy Water Board (HWB) under the Indian government. Heavy water, which is currently entirely imported, is a strategic material used to manufacture thinner and longer-lasting OLED displays. Since heavy water is used as a reactor moderator, its production and distribution are strictly controlled internationally, and producing countries are limited to the United States, India, Russia, Canada, and others.

Along with this, EM&AI has formed a board of directors consisting of OLED experts to demonstrate its commitment to growth in its core business. By appointing top-level experts in the industry and strengthening corporate competitiveness through the existing OLED material business and various related business divisions, the company is expected to achieve medium- to long-term corporate growth.

A company representative said, "From 2024, with the full-scale mass production of Apple's iPad OLED, the medium- to large-sized OLED materials market is also expected to grow," adding, "EM&AI is also expected to benefit as an OLED material company."

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