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L&F Co (066970) investor relations material
L&F Co Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record high quarterly revenue of KRW 739.6 billion in Q1 2026, up 20% QoQ and 103% YoY, driven by both price and volume growth, especially in Hi-Ni shipments.
Operating profit reached KRW 117.3 billion, up 42% QoQ, with an operating margin of 16%, supported by higher utilization, raw material price increases, and FX gains.
Product mix shifted further toward Hi-Ni, with 87% of shipments, and ultra Hi-Ni comprising 88% of Hi-Ni sales.
Financial highlights
Revenue: KRW 739.6 billion (QoQ +20%, YoY +103%).
Operating profit: KRW 117.3 billion (QoQ +42%), OPM 16%.
Net profit: KRW -65.3 billion, but excluding BW exercise, net profit was KRW 61.0 billion (margin 8%).
Inventory assets increased 27% QoQ to KRW 758.2 billion, reflecting strong Hi-Ni shipments.
Ending cash balance at KRW 258.9 billion, down 32% QoQ due to investment and debt repayment.
Outlook and guidance
Expects all-time high quarterly shipments and continued record sales, with margin improvement from higher product prices and utilization.
Full-scale LFP supply launch with 30K ton plant completion in Q2 2026 and SOP by end Q3; expansion to 60K tons planned for H1 2027.
Rising non-China LFP demand and new client acquisition underway.
- Record Hi-Ni shipments and profit recovery drive strong FY25 results, with positive FY26 outlook.066970
Q4 20255 Feb 2026 - Q3 2025 revenue surged 25.4% QoQ with record Hi-Ni shipments and a return to operating profit.066970
Q3 20259 Nov 2025 - Revenue jumped 42.6% QoQ, but losses and high debt remain as shipment growth continues.066970
Q2 202530 Jul 2025 - Revenue and net profit plunged, but cost controls and cash flow management offered some stability.066970
Q3 202413 Jun 2025 - Revenue and profit fell sharply, with higher debt and ongoing liquidity risks.066970
Q2 202413 Jun 2025 - Hi-Ni growth and inventory recovery drive improved Q1 results and positive outlook.066970
Q1 20256 Jun 2025 - Q4 2024 sales rebounded, but losses persisted; 2025 growth expected from Hi-Ni and LFP.066970
Q4 20246 Jun 2025
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