'Copper Foil, Semiconductors, Chemicals' All Rebound... SKC Narrows Losses

Sales Reach 496.6 Billion Won, Operating Loss Narrows to 28.7 Billion Won
EBITDA Turns Positive for the First Time Since Q2 2023
Battery, Semiconductor, and Chemical Businesses Recover Together; Further Improvement Expected in Q2

SKC has successfully returned to profit (on an EBITDA basis), driven by improved performance across all business segments.

On April 27, 2026, SKC announced its consolidated results for the first quarter of 2026, reporting sales of 496.6 billion won and an operating loss of 28.7 billion won. The operating loss narrowed compared to the previous quarter, and EBITDA reached 10 billion won, marking the first quarterly profit since the second quarter of 2023.

The secondary battery materials business posted sales of 156.9 billion won, recording significant growth both quarter-on-quarter and year-on-year. North American copper foil sales volume increased by 95% compared to the previous quarter, and ESS-related sales jumped by 132%, boosting overall performance. Improved productivity at the Malaysian plant also enabled the local subsidiary to achieve a positive EBITDA.

The semiconductor materials business recorded sales of 68.3 billion won and operating profit of 23.6 billion won. Structural reforms focused on profitability led to an operating margin of 34.5%, setting a new quarterly record for operating profit. The expansion of AI data center demand, increased memory product sales, and a higher proportion of high-value-added products contributed to this improved performance.

The chemical business returned to profit, with sales of 270.8 billion won and operating profit of 9.6 billion won. Profitability recovered thanks to tight supply stemming from geopolitical issues in the Middle East and expanded sales of high-value-added PG.

The glass substrate business is currently preparing for reliability evaluations by its clients. The company is enhancing product design completeness and upgrading manufacturing data management and operational systems to strengthen its production base. In the second quarter, it plans to continue producing samples for reliability testing and reviewing new projects.

The company expects the trend of improved results to continue in the second quarter. The secondary battery materials business is projected to sustain its growth through increased ESS sales and the launch of new customer production lines, while the Malaysian plant is expected to enter full-scale operation, targeting a production and sales ratio of over 70%. The semiconductor materials business is moving forward with the expansion of its first plant and construction of a second plant in Vietnam.

A paid-in capital increase is also underway to improve the financial structure. During the employee stock subscription demand survey, demand exceeded allocations by 132%.

An SKC representative stated, "Achieving a positive EBITDA in the first quarter demonstrates the recovery of competitiveness in our core businesses," adding, "We will continue to improve performance through profitability-focused operations and successfully complete the paid-in capital increase to further strengthen our financial stability and growth momentum."

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