[딜사이트 김수정 기자] POSCO Future M expanded its battery material product portfolio and recorded the highest sales in the second quarter following the first quarter.
On the 24th, POSCO Future M announced its second quarter business results with consolidated sales of KRW 1,193 billion and operating profit of KRW 52.1 billion.
Sales and operating profit of the battery materials business in the second quarter were KRW 842.5 billion and KRW 37.5 billion, up 8.0% and 124.6%, respectively, from the previous quarter. The sales of the cathode materials division was KRW 786.3 billion, and the increase in sales of N86 cathode materials, a premium product for high-performance electric vehicles, and the mass production and supply of high-nickel single-particle cathode materials with high energy efficiency and stability for the first time in Korea since last April contributed to the increase in sales. The anode material division recorded sales of KRW 56.2 billion, a decrease of 17.0% from the previous quarter due to a decrease in sales volume due to a drop in demand, but profitability improved slightly due to a rise in plant utilization.
Sales in the basic materials business were KRW 350.5 billion, similar to the previous quarter, but both refractory and lime chemical businesses improved profitability, resulting in operating profit of KRW 14.6 billion, a significant increase from KRW 3.6 billion in the previous quarter.
The reason why POSCO Future M is steadily growing every quarter is because it signed large-scale cathode material supply contracts totaling KRW 83 trillion with domestic and foreign battery companies such as Samsung SDI, LG Energy Solutions, and Ultium Cells in the first half alone. Since 2022, it has secured 106 trillion won in cumulative orders in the field of battery materials alone. Earnings growth is expected to continue in the second half of this year as additional supply contracts are expected with major finished vehicle and battery makers.
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2023-07-24 04:55:29
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