WCP Reports 48.4 Billion KRW Loss in Q4 Last Year... CEO Choi Won-geun's Shareholder Letter

Secondary battery separator company WCP (WCP, CEO Choi Won-geun) announced that it recorded sales of 17.5 billion KRW and an operating loss of 48.4 billion KRW in the fourth quarter of last year. Sales sharply declined by 48 billion KRW compared to the previous quarter and by 74.7 billion KRW compared to the same period last year. Operating profit continued to be in the red following the previous quarter and turned negative compared to the previous year.

Sales of electric vehicle products decreased compared to the previous quarter due to inventory depletion caused by stagnant demand for European automobiles and poor sales by American automobile manufacturers. Sales of products other than electric vehicles also declined due to weak demand in upstream industries such as power tools. WCP confirmed that negotiations for supply to domestic customers for micro-mobility have been completed.

A WCP official stated, "The significant decline in sales of European electric vehicle products in the fourth quarter had a major impact, causing the operating rate to fall compared to the previous quarter," and added, "The timing for installation and operation of the domestic mass production line and the new line in Hungary will be flexibly managed through consultations with customers."

On the same day, WCP CEO Choi Won-geun said in a shareholder letter, "We expect the first half of this year’s performance to be challenging," but added, "We will thoroughly prepare by perfectly developing our innovative base materials and coating production process technology to be ready for the growth phase of the secondary battery industry, which is expected to improve from the second half of 2025."

CEO Choi continued, "In the second half of 2025, we will strive to attract new domestic and international customers and secure long-term supply contracts," and added, "Keeping in mind the great growth potential of new form factors, we will introduce a more efficient development, production, and sales management system."

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