SKC continued to report losses in the third quarter of this year. While the operating loss decreased compared to the same period last year, it significantly widened compared to the previous quarter.
On October 28, SKC announced that it recorded sales of 638.9 billion won and an operating loss of 49.6 billion won for the third quarter. Compared to the previous quarter, sales fell by 1%, while operating losses increased by 244.4%, and net losses worsened by 56.3%.
In terms of business performance, the copper foil segment generated sales of 248.2 billion won, benefiting from a gradual recovery in electric vehicle (EV) demand and growth in the North American energy storage system (ESS) market. However, one-time costs incurred during the efficiency improvement of domestic production facilities and fixed cost burdens from the full operation of the Malaysian plant contributed to an operating loss of 54.4 billion won.
SK Nexilis has completed its transition to a production and sales system centered in Malaysia, laying the groundwork for enhanced cost competitiveness. As a result, the Malaysian subsidiary anticipates a turnaround to operating profit in the fourth quarter, driven by improved sales of copper foil for electric vehicles, increased demand in the North American ESS market, and the gradual reflection of higher selling prices.
The semiconductor materials segment achieved sales of 71.8 billion won and operating profit of 21.8 billion won. This strong performance was driven by an increased share of high-value products for artificial intelligence (AI) data centers, sales growth in new non-memory sectors such as automotive and robotics, and improved profitability of existing memory products. The chemical segment recorded sales of 317.3 billion won and operating profit of 13.4 billion won, marking its third consecutive quarter of profitability.
SKC also improved its financial structure. Through a capital increase in the first half of the year and capital-raising efforts by SK Nexilis, the debt ratio was reduced from 233% at the end of last year to 122%.
An SKC official stated, "The fundamentals of each business are improving, and the outline of a turnaround is becoming clearer. As we have completed preparations for a full-fledged turnaround, we will work to enhance business competitiveness and improve profitability to achieve visible results going forward."
* This article has been translated by AI.
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