Solus Advanced Materials, Strong Performance in Battery and Copper Foils... Record Quarterly Sales

Solus Advanced Materials announced on the 24th that its consolidated sales for the second quarter reached 149.3 billion KRW, marking a 47.5% increase compared to the same period last year. Operating loss improved by 13.3 billion KRW from the previous year to 10.5 billion KRW, reducing the deficit.

The battery copper foil and copper foil business segment recorded 117 billion KRW, up 58.9% year-on-year, driven by strong product sales.

Sales of battery copper foil surged 82.0% year-on-year to 66.8 billion KRW. The stabilization of battery copper foil production and a significant increase in supply volume to major customers led the sales growth.

Copper foil sales also rose 36.0% year-on-year to 50.2 billion KRW. The proportion of high-margin high-end copper foil sales, such as ultra-low reflectivity copper foil used in network copper foil, increased by nearly 80%, contributing to improved profitability. With the rising demand for artificial intelligence (AI) semiconductors, new customers have been continuously secured in the high-end copper foil segment for AI accelerators, indicating expected long-term growth.

Electronic materials sales also increased 17.0% year-on-year to 32.3 billion KRW. Despite the seasonal low in the first half of the year, sales grew compared to the previous quarter, showing solid growth. The stabilization of supply for mobile OLED display materials and increased supply volume to overseas customers contributed to the sales increase.

Kwack Geun-man, CEO of Solus Advanced Materials, said, "Considering the front-end market conditions such as the slowdown in the electric vehicle market growth, this is a very encouraging achievement," adding, "In the copper foil and electronic materials sectors, which have high growth potential due to AI in the future, we plan to respond quickly to market changes to drive sales growth and improve profitability."