Samsung SDI achieved an all-time record high in the third quarter due to demand for high-performance electric vehicle batteries.
Samsung SDI announced on the 2nd that it recorded KRW 3.4398 trillion in sales and KRW 373.5 billion in operating profit in the third quarter. Sales increased by 11.4% compared to the same period last year, and operating profit increased by 39.9%.
Samsung SDI achieved the record-high earnings as of the third quarter. By business sector, sales in the energy and other sectors increased by 15% compared to the same period last year to KRW 2.7409 trillion. Operating profit was KRW 2018 billion, increased 46% from the same period last year.
EV batteries maintained a surplus despite declining demand in the energy sector. Despite the decline in demand due to a shortage of automotive semiconductors, the company maintained profitability as sales of high-performance electric vehicle battery products increased.
Small batteries achieved sales growth and improved profitability. Cylindrical battery sales increased mainly in mobility such as electric bicycles. For pouch batteries, profitability improved with the increased sales for smartphones and wearables.
In the electronic materials division, profitability improved due to increased sales of high value-added products. High value-added products such as spin on hard-masks (SOH) have improved for semiconductor materials, and sales for smartphones have increased for organic light-emitting diodes (OLED) materials.
Samsung SDI's sales volume is expected to increase mainly in mid- to large-sized batteries in the fourth quarter. Profitability is expected to improve with the sales volume of electric vehicle batteries increases with next-generation Gen 5 batteries and energy storage system (ESS) for home use. Sales of semiconductor and OLED materials are expected to continue to expand for electronic materials,
By Staff Reporter Ji-woong Kim (jw0316@etnews.com)