DA Technology, 3Q Cumulative Sales of 76.6 Billion KRW, Up 146% YoY... "Surpassing Last Year's Sales"

DA Technology's cumulative sales for the third quarter have surpassed last year's sales, continuing its record-breaking performance.

DA Technology announced on the 15th that its cumulative sales on a consolidated basis for the third quarter increased by 145.5% compared to the same period last year, reaching 76.6 billion KRW. Operating loss for the same period was 26.2 billion KRW.

The order backlog worth 120 billion KRW secured last year has been fully reflected in sales, driving triple-digit sales growth. As of the end of the third quarter, the cumulative order backlog stood at 96.4 billion KRW, already far exceeding last year's sales. Additionally, with the delivery to Hyundai Motor-LG Energy Solution for Indonesia ramping up, further orders are expected in the fourth quarter.

A company representative explained, “The operating loss increased temporarily due to initial development costs and labor expenses incurred during the overseas setup process for the large-scale Indonesia project, including changes in customer specifications. All initial investment costs have been accounted for, and operating loss as of the third quarter was 5.8 billion KRW, reduced compared to the previous quarter. Profitability is expected to improve based on company-wide cost reduction activities.”

The outlook for the fourth quarter and next year is also positive. With new line expansions planned at overseas sites such as the United States and Indonesia, demand for secondary battery equipment is expected to continue. DA Technology is accelerating capacity (CAPA) expansion to respond to large-scale orders expected next year. Currently, the company is reviewing new factory sites, securing personnel, and developing new equipment.

The company representative added, “Thanks to the large-scale orders secured last year, achieving the highest-ever sales this year is expected to be smooth. With additional orders anticipated in the fourth quarter, securing orders exceeding 100 billion KRW this year is also expected.”

They further stated, “The increased operating loss is a one-time cost, and from next year, we will focus on improving profitability based on accumulated know-how and operational processes.”

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