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(Photo = Ecopro) |
[Alpha Biz= Reporter Kim Jisun] EcoPro, a secondary battery company, announced on the 31st that it recorded an operating loss of 54.6 billion KRW on a consolidated basis for the second quarter of this year (April to June). The company attributed the weak performance in both profit and revenue to the "chasm" in electric vehicle (EV) demand—a temporary stagnation in demand—and the rising costs of materials like lithium.
EcoPro reported that its sales dropped by more than half (57.2%) compared to the same period last year, amounting to 864.1 billion KRW. Operating profit plummeted by 83.1% compared to the same quarter last year, when it stood at 170.3 billion KRW. EcoPro BM, the subsidiary responsible for cathode material production, posted an operating profit of 3.9 billion KRW for the second quarter, a sharp 96.6% decrease from the same period last year. Sales for EcoPro BM were 809.5 billion KRW, down 57.5% year-on-year.
Despite the decline in product sales due to slowing demand, EcoPro noted that the decrease in cathode material prices has recently begun to stabilize, and the company expects to see more stable results in the third quarter (July to September).
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
