EQCell Q3 Operating Profit 6.5 Billion Won... "Successful Turnaround to Profitability Based on Secondary Battery Business"

EQCell announced on the 14th that its cumulative sales for the third quarter on a consolidated basis reached 96.5 billion KRW, an increase of 21.74% compared to the same period last year. Operating profit for the same period recorded 6.5 billion KRW, achieving a turnaround to profitability, and net profit surged 341% to 6 billion KRW.

EQCell's strong performance in the third quarter is attributed to the expansion of supply of logistics equipment for secondary batteries. EQCell recorded sales of 27 billion KRW in the first quarter, 32.1 billion KRW in the second quarter, and 37.4 billion KRW in the third quarter, showing continuous growth in performance.

EQCell manufactures and supplies various industrial equipment for industries such as secondary batteries, automobiles, and solar power. In particular, it is strengthening its market dominance as a leading company in deposition equipment capable of producing solar cells with high photoelectric efficiency, such as perovskite deposition.

Kim Bong-gwan, CEO of EQCell, said, “Not only the secondary battery business but also the plasma process equipment is growing, accelerating EQCell’s performance growth,” and added, “Through collaboration with the new largest shareholder Hurim Robot, we will maximize the technological synergy between the two companies, maximize corporate value, and focus on strengthening the competitiveness of core businesses.”