EV Advanced Materials Achieves Operating Profit Turnaround After 3 Years

EV Advanced Materials announced on the 13th that it has succeeded in increasing sales and turning operating profit positive.

On a consolidated basis, EV Advanced Materials recorded sales of 58.07 billion KRW in 2022 and 62.79 billion KRW in 2023, and last year sales increased by 30.5% year-on-year to 81.92 billion KRW. The company achieved a turnaround to an operating profit of 2.56 billion KRW last year, compared to operating losses of 2.86 billion KRW in 2022 and 5.77 billion KRW in 2023.

A company representative stated, “The flexible printed circuit boards (FPCB) for electric vehicle batteries have partially recovered, and Actvision, our transparent display business, has expanded its scale through OEM supply to large corporations. We expect 2024 to be a year of strengthening internal stability through management efficiency, and we will make significant efforts to expand the transparent display business in Japan and the Middle East this year.”

The company explained that Actvision, the transparent display division, boasts the industry's highest transparency and is the only company in Korea equipped with a mass production system for ultra-high-resolution, large-area transparent LED films. Furthermore, it was selected as an excellent product for the first time in Korea in 2021 and has a track record of supplying not only to local governments and civilian markets nationwide but also to pachinko parlors in Tokyo, Japan.

A company representative added, “By supplying high-resolution LED displays to the Green Smart Shelter installed right next to major bus stops in Gangnam-gu, Seoul, we are further solidifying our display business. Through advertising displays, public information such as brand content and district office news can also be accessed.”

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