[Asia Economy Reporter Hwang Yoon-joo] Samsung SDI is falling more than 6% following disappointing fourth-quarter results last year and a downward revision of its first-quarter earnings outlook for this year.
As of 9:55 a.m. on the 28th, Samsung SDI is trading at 555,000 KRW, down 6.57% from the previous trading day.
Samsung SDI reported consolidated sales of 3.8159 trillion KRW and operating profit of 265.7 billion KRW for the fourth quarter, increases of 17.4% and 7.9% respectively compared to the same period last year. However, both sales and operating profit fell short of consensus estimates.
Kwon Seong-ryul, a researcher at DB Financial Investment, analyzed on the 28th, "Even considering one-time costs such as special bonuses, the fourth-quarter performance was at a disappointing level," adding, "Battery sales fell short of expectations due to production disruptions at finished car manufacturers."
Park Kang-ho, a researcher at Daishin Securities, stated, "We estimate first-quarter 2022 consolidated operating profit to increase 113.2% year-on-year to 283.9 billion KRW," and added, "Although sales of medium and large batteries for electric vehicles are also increasing, we are revising down sales and profits compared to previous estimates."
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