Solus Advanced Materials announced preliminary results showing consolidated sales of 134.7 billion KRW for the third quarter, marking a 21.1% increase compared to the same period last year. Operating loss was recorded at 18.6 billion KRW.
Sales in the battery foil and copper foil business division reached 104.3 billion KRW, up 24.3% year-over-year. Although growth slowed somewhat compared to the previous quarter, double-digit growth was maintained compared to the same period last year.
Battery foil sales increased by 34.5% year-over-year to 55.0 billion KRW. Despite a slowdown in the global electric vehicle market, supply volumes of battery foil to European customers steadily increased. Compared to the previous quarter, sales declined temporarily due to volume adjustments by major clients.
Copper foil sales rose 14.7% year-over-year to 49.3 billion KRW. Notably, the sales proportion of high-end copper foil, including copper foil for AI accelerators, continued to grow steadily, contributing significantly to overall sales.
The electronic materials division also recorded sales of 30.4 billion KRW, an 11.4% increase year-over-year. With a solid sales structure supported by numerous proprietary IPs (intellectual properties), the electronic materials division saw increased sales in its core materials and non-emissive materials.
Kwack Geun-man, CEO of Solus Advanced Materials, stated, "Although we face a challenging environment due to the global slowdown in key industries such as electric vehicles, we continue efforts to overcome these difficulties through portfolio expansion and sustained investment. Despite demand contraction in electric vehicles, the volume supplied to domestic and international customers is steadily increasing thanks to proven technology. Starting next year, supply of copper foil for AI accelerators will also be in full swing, and sales of high-value-added high-end copper foil are expected to increase significantly."
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