Increase in High-Nickel Cathode Sales
Rising Demand for Diversified Anode Supply Chains
POSCO FutureM announced on April 24 that its consolidated sales for the first quarter of this year reached KRW 845.4 billion, with an operating profit of KRW 17.2 billion. Compared to the same period last year, these figures represent decreases of 25.7% and 54.7%, respectively. However, compared to the previous quarter, sales increased by 16.9%, and the company returned to profitability in terms of operating profit.
In the battery materials business, both cathode and anode sales increased compared to the previous quarter, resulting in a 32.4% rise in sales to KRW 505.6 billion and an operating profit of KRW 2.4 billion, marking a return to profitability.
POSCO FutureM explained, "Profitability improved for cathode materials due to increased operating rates stemming from higher sales volumes, as well as expanded sales of high-nickel premium cathode materials. Anode material sales also grew due to increased demand from customers for supply chain diversification."
The basic materials business recorded sales of KRW 339.8 billion and an operating profit of KRW 14.8 billion. The company stated, "Refractory sales increased due to higher demand resulting from steel process repairs, while the lime and chemical businesses improved profitability through more efficient production operations and higher coal tar sales prices."
POSCO FutureM is also focusing on strengthening its research and development (R&D) capabilities and diversifying its product portfolio. By organically linking the group’s research capabilities?including POSCO Holdings Future Technology Research Institute, Pohang Institute of Industrial Science and Technology (RIST), and POSTECH?the company is developing new products targeting the entry-level market, such as high-voltage mid-nickel (Mid-Ni), lithium manganese rich (LMR), and lithium manganese iron phosphate (LMFP) cathode materials.
A POSCO FutureM representative stated, "For lithium iron phosphate (LFP) cathode materials, we are reviewing various commercialization options, including technology partnerships and joint ventures, in response to requests from multiple customers. In the anode material segment, we aim to secure a leading position in the global market by developing high-value-added products such as low-expansion natural graphite anodes and high-capacity silicon-carbon composite (Si-C) anodes."
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