Significant growth over the previous year… Slight decline in operating profit due to metal price and exchange rate fluctuations
[인더스트리뉴스 이건오 기자] Ecopro Group (CEO Song Ho-joon), which focuses on secondary battery anode materials and eco-friendly business, announced that it achieved sales of 2.172 trillion won and operating profit of 170.3 billion won in the second quarter of 2023.
According to Ecopro, sales slightly decreased compared to the previous quarter, but it is evaluated that the quarterly sales era of 2 trillion won was maintained in that it maintained the 2 trillion won level. Operating profit decreased by 6.6% compared to last quarter’s KRW 182.4 billion, which was mainly attributed to metal price and exchange rate fluctuations.
Ecopro explained that, on a consolidated basis, the cumulative sales and operating profit for the second quarter were KRW 4.816 trillion and KRW 352.7 billion, respectively, up 113.4% and 57.6% year-on-year.
Looking at each major family company, Ecopro BM, a leading high-nickel anode material company, recorded an operating profit of 114.7 billion won on sales of 1.9062 trillion won in the second quarter. Although sales decreased by 5.2% from 2.11 trillion won in the previous quarter, operating profit increased by 6.9% compared to 107.3 billion won in the previous quarter. As of the first half of this year, cumulative sales of KRW 3,917.2 billion and operating profit of KRW 222 billion were up, up 111.8% and 54.2% from the same period last year.
In detail, the sales volume of cathode materials for power tools decreased, but the sales volume of cathode materials for electric vehicles increased. It is an analysis that production efficiency has increased as sales of cathode materials for electric vehicles in small-scale mass production have increased rather than for power tools in small-scale multi-product production.
A company official said, “In the third quarter, profitability is expected to deteriorate temporarily due to lower average selling prices due to falling metal prices, but it is expected to recover from the fourth quarter.” We are maintaining a solid operating profit margin,” he explained.
Ecopro 3 companies’ business performance in the first half [자료=에코프로]
Ecopro HN, an eco-friendly total solution company, recorded an operating profit of 11.2 billion won on sales of 56.5 billion won in the second quarter. Compared to the previous quarter’s sales of 59.5 billion won and operating profit of 12 billion won, they decreased by 5% and 6.7%, respectively, but the cumulative consolidated sales and operating profit for the second quarter were 116 billion won and 23.2 billion won, respectively, up 70% and 170.5% from the same period last year.
Sales and operating profit in the second quarter decreased slightly compared to the first quarter due to a decrease in sales volume of cleanroom chemical filters for semiconductors. In the third quarter, demand for clean room chemical filters and greenhouse gas reduction business is expected to temporarily weaken, but the company as a whole is expected to exceed its target due to increased demand in the fine dust business unit.
On the other hand, through this performance announcement, Ecopro disclosed the new business promotion plan of Ecopro HN. Ecopro HN plans to produce electrolyte additives using lithium salts to expand the value chain with family companies related to cathode materials. In addition, it plans to produce ‘Sagger’, a container that contains the cathode material during the process, and ‘Dopant’, an additive to improve the energy density of the cathode material. Ecopro HN plans to maximize synergy between family companies and secure new future growth engines through participation in the battery material business.
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2023-08-04 09:28:55
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