Samsung SDI Energy Solutions Reports 79.9 Billion Won in Revenue for First Half of Year

Samsung SDI Energy Solutions achieved a record revenue of 79.9 billion won in the first half of this year on a standalone basis, marking the highest performance for the half-year period. This represents a 117% increase compared to the same period last year. Operating profit reached 3.7 billion won, a 139% increase year-on-year. On a consolidated basis, revenue was 113.3 billion won, with an operating profit of 4.9 billion won. In the second quarter, standalone revenue was 46.5 billion won, up 127% from the same period last year, while operating profit surged to 3.3 billion won, a 377% increase. The operating profit margin was recorded at 7.2%. The stabilization of production in North America is at the core of the performance improvement, with full-scale production expected to begin in May 2024. The company's main product, battery end plates, is contributing to revenue growth alongside the expansion of ESS battery component supply. The company is also expanding its core connector business for ESS, with the increasing power demand from AI data centers and the expansion of renewable energy contributing to the rising demand for ESS components. CEO Kim Chi-hwan stated that the stabilization of production in North America and the spread of AI data centers are contributing to the growth of the ESS market.

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