EV Advanced Materials Q1 Net Profit 1.8 Billion KRW... 123% Increase YoY

EV Advanced Materials announced on the 13th that its consolidated financial statements for the first quarter of this year recorded sales of 18.1 billion KRW, operating profit of 900 million KRW, and net profit of 1.8 billion KRW. Compared to the same period last year, sales grew by 8.9%, operating profit increased by approximately 269.6%, and net profit rose by 123.6%.

A representative of EV Advanced Materials stated, “The FPCB for electric vehicle batteries, which had deteriorated, has partially recovered, leading to increased sales and order backlogs. Mobile-related performance temporarily improved, and along with customer-centric collaboration and continuous efforts in cost and product innovation, these results were achieved.” He added, “We will continue to strengthen our leading role in the global market and strive to provide customers with the best products and services.”

Additionally, the performance of EV Advanced Materials’ transparent display business, ‘Actvision,’ has significantly improved. Recently, at the Korea Nara Market Expo 2024, they showcased more differentiated products such as transparent display automatic doors. Their technological capabilities have been recognized through OEM supply to large corporations and installations in areas such as Bukchang-dong food street, bus stops, and rest areas. They are actively expanding into overseas markets, including construction at the Okinawa Arena in Japan.

A representative of EV Advanced Materials said, “Through innovative efforts to enhance good products and cost competitiveness, we will pursue customer value creation and satisfaction through business performance in the second and third quarters of this year.”