Revenue for the third quarter of this year totaled 4.6856 trillion won, a 52.6% increase compared to the same period last year (3.0714 trillion won). It also rose 20.9% from the previous quarter (3.8765 trillion won).
Operating profit reached 407.8 billion won, roughly double the 203.8 billion won recorded in the second quarter. This marks the company’s best performance since the third quarter of 2023 (496.0 billion won).
By business segment, revenue in the battery division surged 55.3% year-over-year to 4.4099 trillion won. Operating profit reached 361.9 billion won, marking a return to profitability.
This was driven by a significant increase in sales of energy storage systems (ESS) and battery backup units (BBU), fueled by the growth of the global artificial intelligence (AI) data center market. Additionally, sales of cylindrical batteries for power tools and electric vehicles expanded, leading to a marked improvement in performance.
The Electronic Materials division maintained solid performance amid generally strong Chonbang demand, with increased sales of semiconductor patterning materials and display film materials for foldable smartphones.
In the third quarter, SAMSUNG SDI CO.,LTD. achieved several milestones, including: △ strengthening its leadership in the U.S. ESS market; △ launching its LFP (lithium iron phosphate) battery business in earnest; and △ securing next-generation technologies and new applications. Regarding its U.S. ESS business, the company solidified its business foundation by strengthening its local production and supply systems and, driven by growing local ESS demand, secured orders totaling more than 60 GWh (gigawatt-hours) this year alone.
The company has decided to utilize the Synergy Cells plant in Indiana as a production hub for ESS batteries. It is responding to the “de-China” trend in the U.S. by signing long-term supply contracts for LFP cathode materials with major domestic materials suppliers.
The LFP battery business has also gained momentum. Starting this month, the company began mass production of high-capacity prismatic LFP cells at the Star Plus Energy (SPE) plant in the U.S., and in Europe, it has secured an LFP battery project for electric vehicles while continuing to pursue additional orders.
SAMSUNG SDI CO.,LTD. forecasts that growth in the ESS market will continue in the fourth quarter of this year, while demand in the European electric vehicle market is expected to increase. However, the company anticipates that the slowdown in demand in the U.S. electric vehicle market will persist.
