Increase in Sales Volume in North America and Europe
SK ie technology (SKIET) announced on the 30th that its consolidated operating loss for the second quarter of this year was provisionally tallied at 53.8 billion KRW. Compared to the previous quarter, the loss decreased by approximately 23%, while revenue increased by about 42% to 82.8 billion KRW.
Sales volume rose by around 60% from the previous quarter, driven by increased demand for products in North America and Europe as well as for ESS applications. As a result, the company explained that the utilization rate of its Poland plant also increased. Operational efficiency improved as well. Inventory assets decreased by nearly half compared to last year's peak, and the company is also pursuing the sale of its Cheongju plant and the securitization of assets in the FCW business.
SKIET plans to improve profitability in the second half of the year by expanding its ESS customer base and providing customized responses for each form factor. Investments in the third and fourth Poland plants are scheduled to be completed within this year, and the second plant is targeted to begin commercial operation in early 2026.
On the same day, SKIET also announced a third-party paid-in capital increase worth 300 billion KRW. The newly issued shares will be allocated to three financial investors, and SK Innovation will participate indirectly through a price return swap (PRS) agreement. A company representative stated, "We will pursue sustainable growth by diversifying our customer base and strengthening our supply chain response capabilities."
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