Shulou(Shulou.com)11/24 Report--

January 30 news, according to foreign media reports, with the increasing demand for electric vehicles, the demand for batteries, a key component, has also increased sharply, which has boosted the performance of battery manufacturers such as Ningde Times, LG New Energy, SK On, Samsung SDI and so on.

Samsung SDI, one of the top three battery manufacturers in South Korea, has invested less in electric vehicle batteries than LG New Energy and SK On in the past two years, but its revenue has also increased sharply, driven by increased sales of electric vehicle batteries.

Revenue in the fourth quarter of last year reached a record high of 5.96 trillion won, according to results released earlier Monday by Samsung SDI, which showed revenue of 5.96 trillion won (currently about 32.78 billion yuan) in the fourth quarter of last year, up 2.14 trillion won from 3.82 trillion won in the same period of the previous year, and a year-on-year increase of 56.3%.

According to the financial results, Samsung SDI's revenue in the fourth quarter of last year increased significantly compared with the same period last year, mainly due to an increase in revenue from its energy business, including car batteries and smart energy storage system batteries, which reached 5.34 trillion won, an increase of 2.23 trillion won over the same period last year, a year-on-year increase of 71.9% and a 10.5% increase from the previous year.

Samsung's SDI electronic materials business had revenue of 624.3 billion won in the fourth quarter of last year, down from 708.7 billion in the same period a year earlier and down 11.9% from a month earlier.

In terms of operating profit, Samsung SDI reported an operating profit of 490.8 billion won (currently about 2.699 billion yuan) in the fourth quarter of last year, up from 265.7 billion in the same period last year and up 84.7 per cent from a year earlier. Among them, the operating profit of the energy business was 359.1 billion won, an increase of 198.8% over the same period last year; the operating profit of the electronic materials business was 131.7 billion won, down 9.5% from the same period last year, slightly lower than the decline in revenue.

Samsung SDI disclosed in its financial results that its revenue and operating profit both reached record highs in the fourth quarter of last year.

Full-year revenue of 20.12 trillion won, breaking the 20 trillion mark for the first time in 2022, Samsung SDI revenue of 20.12 trillion won (currently about 110.66 billion yuan), an increase of 6.57 trillion from 13.55 trillion in 2021 and a year-on-year increase of 48.5%.

As in the fourth quarter, Samsung SDI's full-year revenue growth was also due to an increase in revenue from energy businesses such as electric car batteries, which increased by 6.62 trillion won to 17.57 trillion won, or 60.4 per cent year-on-year. Full-year revenue from the electronic materials business was 2.56 trillion won, down from 2.61 trillion the previous year and down 1.9 per cent from a year earlier.

On the profit side, the financial report showed that the full-year operating profit was 1.81 trillion won (currently about 9.955 billion yuan), compared with 1.07 trillion the previous year, an increase of 69.4% over the same period last year, while the energy business contributed 1.25 trillion won, up 133.2% from the same period last year.

Net profit last year was 2.04 trillion won (currently about 11.22 billion yuan), up from 1.25 trillion in 2021 and up 63.1 per cent from a year earlier.

It is worth noting that Samsung SDI disclosed in its financial report that last year's revenue of 20.12 trillion won was the first time that their annual revenue exceeded 20 trillion won.

The car battery market is expected to reach $159 billion this year, like other Samsung companies, and Samsung SDI gave their expectations for the future in its fourth-quarter results.

In the financial report, Samsung SDI mentioned that P5 battery sales in the first quarter of this year will lead to an increase in battery sales in cars and intelligent energy storage systems. They also expect to see an increase in battery sales in cars and intelligent energy storage systems compared with the same period last year. As P5 batteries are used in new models and new production lines, they also expect higher sales of automotive batteries.

Samsung SDI, despite concerns about car batteries, expects the market to reach $159 billion this year (currently about 1.08 trillion yuan), up 39 per cent from a year earlier. Their concerns are mainly expected to be multiple adverse factors that will affect the demand for cars.

In its earnings report, Samsung SDI revealed that it plans to continue the growth momentum driven by the entry of P5 batteries into the high-end electric vehicle market, and they will continue to work hard to obtain new projects and develop and produce next-generation products such as solid-state batteries, paving the way for medium-and long-term growth.

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