Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS AGENCY) = EcoPro announced on the 31st that its consolidated sales for the second quarter of 2024 decreased by 15% from the previous quarter, totaling KRW 864.1 billion.

According to EcoPro, the operating loss for the second quarter was KRW 54.6 billion, an increase in loss of approximately KRW 24.8 billion compared to the KRW 29.8 billion reported in the first quarter. This increase was attributed to a slowdown in product sales and rising material costs, including lithium.

EcoPro BM, a core affiliate producing cathode materials, continued its profitable streak from the first quarter. EcoPro BM achieved sales of KRW 809.5 billion and an operating profit of KRW 3.9 billion in the second quarter. Although sales decreased by 17% compared to the previous quarter, the company maintained profitability due to the reversal of inventory valuation allowances.

EcoPro Materials, which produces precursors, reported second-quarter sales of KRW 66.7 billion and an operating loss of KRW 3.7 billion. Despite a 16% decline in sales from the previous quarter, the operating loss was reduced compared to the previous quarter's KRW 13 billion loss, thanks to the impact of the rising KRW/USD exchange rate, which improved profitability.

EcoPro HN, an eco-friendly total solutions company, posted second-quarter sales of KRW 46.8 billion and an operating profit of KRW 3.6 billion. This represented a 9% decrease in sales and a 51% decline in operating profit from the previous quarter.

By Eun-young Huh(eunyoung114@nspna.com) and In-ho Cho(eno8166@nspna.com)

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