Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = Samsung SDI recorded sales of KRW 5.13 trillion and operating profit of KRW 267.4 billion in the first quarter of 2024.

Sales fell 4% compared to the same period last year and 8% compared to the previous quarter. Operating profit decreased by 29% compared to the same period last year and by 14% compared to the previous quarter.

Battery division sales amounted to KRW 4.5818 trillion, down 5% from the same period last year and 8% from the previous quarter. Operating profit was KRW 214.5 billion, down 32% from the same period last year and 5% from the previous quarter. The operating profit margin was 4.7%.

Sales and operating profit of batteries for energy storage systems(ESS) decreased, and sales of small batteries decreased compared to the previous year, but profitability improved, centering on pouch-type batteries.

Sales of round batteries decreased due to inventory from customers focusing on mobility, but sales and profitability of power tools were maintained at the previous quarter’s level based on long-term supply contracts. For pouch-type batteries, both sales and operating profit increased compared to the same period last year due to strong sales of new flagship smartphones from major customers.

Sales in the electronic materials division amounted to KRW 549.1 billion, down 1% compared to the same period last year and 3% compared to the previous quarter. Operating profit was KRW 52.9 billion, down 10% from the same period last year and 38% from the previous quarter. The operating profit margin was 9.6%.

Polarizing film sales expanded and profitability improved, focusing on large panels larger than 75 inches. For semiconductor materials, sales and operating profit decreased compared to the previous quarter due to temporary inventory adjustments by customers.

By Soon-ki Lee(s8789@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

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