Phil Energy announced on the 7th that its sales revenue for last year reached 196.7 billion KRW. Operating profit for the same period was 15.3 billion KRW, a decrease of 8.9%. The sales revenue is the highest ever, and the company has maintained an operating profit margin of around 8% for two consecutive years.
A representative from Phil Energy stated, "Unlike recent operating losses experienced by secondary battery equipment companies, due to factors such as the depreciation of initial development costs for our core stack equipment, we expect to continue generating consistent profits in the future. With our customers' ongoing investments in North America and Europe, the expected mass production supply of laser notching equipment, and the launch of the 4680 cylindrical winding machine, the growth in sales and profits is expected to accelerate."
Operating profit slightly decreased compared to the previous year due to increased selling and administrative expenses from workforce expansion to handle the surge in orders and the development of next-generation new equipment. However, the company expects solid growth as most of the 260 billion KRW worth of equipment orders received in the second half of last year and those scheduled for the first half of this year will be recognized as sales this year, along with new orders such as the cylindrical winding machine.
Meanwhile, net income recorded a loss of 6.4 billion KRW due to accounting treatment of previously issued convertible bonds as financial expenses. The company explained that this does not represent an actual loss and was already reflected in the previous year, so it expects no accounting impact starting this year.
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