EcoPro announced on November 5 that it recorded consolidated revenue of 810.7 billion won and an operating profit of 11.2 billion won for the third quarter of this year. Compared to the same period last year, revenue decreased by 15.5%, and operating profit fell by 92.5%. Cumulatively, revenue for the third quarter reached 2.45 trillion won, with an operating profit of 101.1 billion won.
By subsidiary, EcoPro BM reported consolidated revenue of 557.9 billion won and an operating profit of 12 billion won for the third quarter. Although revenue slightly declined from the previous quarter due to a slowdown in the North American electric vehicle market, sales of energy storage systems (ESS) increased due to the expansion of artificial intelligence (AI) data centers.
EcoPro HN achieved revenue of 52.8 billion won and an operating profit of 11.3 billion won in the third quarter, with both figures rising compared to the previous quarter. The semiconductor industry's boom has led to increased orders and improved profitability.
EcoPro Materials saw a slight increase in revenue to 181.1 billion won compared to the previous quarter but reported an operating loss. External factors such as exchange rates and declining metal prices contributed to the drop in profitability.
Revenue from the recycling segment rose to 41.8 billion won, an increase of 8.6 billion won from the previous quarter. The lithium business generated 54.2 billion won in revenue, although some volume was reduced due to client line changes.
The EcoPro Group is expanding its overseas business by securing new clients in North America and signing contracts for processing black mass extracted from used batteries. They are also in discussions with multiple clients for an integrated material supply business that connects recycling with lithium, precursors, and cathode materials.
EcoPro HN expects improved performance as orders for environmental plants will begin to reflect in revenue starting in the fourth quarter. They are establishing a pilot production line for semiconductor back-end materials at the Ochang campus, aiming for client approval next year.
EcoPro BM plans to increase shipments by stabilizing production at its Hungary plant and securing new volumes. Additionally, they aim to expand their client base for cathode material sourcing from their Indonesian refinery.
Kim Jang-woo, CEO of EcoPro, stated, "We plan to lay the groundwork for performance improvement through diversification of business opportunities with clients, including black mass processing, new precursor volumes, and securing new customers for cathode materials. We aim for solid growth starting in the fourth quarter while also securing long-term growth drivers."
Meanwhile, EcoPro BM signed a memorandum of understanding with Samsung SDI on October 6 for the development of materials for solid-state batteries.
* This article has been translated by AI.
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