South Korea · Delayed Price · Currency is KRW Ecopro Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw strong revenue and profit growth, driven by Green Eco Nickel consolidation, robust lithium and cobalt prices, and semiconductor sector recovery. Indonesian smelter investments and PRS swap proceeds support future growth, with further margin expansion expected in H2.
Fiscal Year 2025
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Q4 2025 marked a return to profitability for key subsidiaries, driven by rising metal prices and operational improvements. 2026 is expected to deliver robust growth as Indonesian smelters ramp up, with strong guidance for revenue and profit expansion across all segments.
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Q3 saw a sharp rise in consolidated profit driven by the Green Eco Nickel acquisition and higher precursor/lithium sales. Indonesia investments are set to further boost earnings, with PRS financing and depreciation changes supporting liquidity and profitability.
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Q2 2025 saw a return to profitability with KRW 931.7 billion in revenue and KRW 16.2 billion in operating profit, driven by cathode materials and Indonesian investments. The group expects continued growth in H2 2025, with strong European EV demand and expanding non-captive sales.
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Q1 2025 saw a return to consolidated operating profit and strong revenue growth, driven by battery materials demand and new customer wins. PT Green Eco Nickel acquisition and ongoing cost controls are expected to further boost profitability, while risk from U.S. tariffs remains limited.
Fiscal Year 2024
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Q4 2024 saw modest sequential revenue growth but continued operating losses due to inventory provisions and weak downstream demand. 2025 guidance is optimistic, with expectations of sales volume recovery, new customer wins, and improved profitability driven by cost innovation and upstream integration, especially from the Green Eco Nickel acquisition.
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Q3 2024 saw steep revenue declines and operating losses across key segments due to weak EV demand and falling metal prices, with significant inventory valuation losses. Management expects continued headwinds in Q4 but anticipates recovery in 2025 as market conditions and regulatory factors improve.
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Q2 2024 saw revenue and profit declines across all affiliates due to lower ASPs and weak demand, but inventory management and global resource investments are expected to support profitability in H2. European expansion and new business initiatives continue, with cautious optimism for a market rebound.