Posco Future M (003670) Q3 2025 earnings summary

Executive summary

• Achieved consolidated revenue of KRW 2,381.1 billion and operating income of KRW 84.6 billion for 2025 Q3, with net income attributable to owners at KRW 55.8 billion, rebounding from a loss in the prior year.

• Energy materials accounted for 56.9% of sales, with significant growth in battery materials, while basic materials and lime/calcining contributed 16.1% and 27.0% respectively.

• Major investments in production capacity and R&D, including expansion in cathode/anode materials and new graphite facilities, to meet rising EV and ESS demand.

• Achieved consolidated sales of KRW 875 bn and operating profit of KRW 67 bn in 3Q25, with an operating profit margin of 7.6% and net profit of KRW 46 bn, marking a significant turnaround from previous quarters.

• Gross profit rose to KRW 125 bn, up KRW 75 bn sequentially and KRW 67 bn year-over-year, reflecting improved operational efficiency.

Financial highlights

• Revenue for 2025 Q3 was KRW 2,381.1 billion, down from KRW 3,699.9 billion in 2024 Q3, reflecting market headwinds.

• Operating income rose to KRW 84.6 billion from KRW 0.7 billion year-over-year, with net income at KRW 55.8 billion, reversing a prior loss.

• EBITDA reached KRW 119 bn, up KRW 69 bn sequentially and KRW 70 bn year-over-year.

• Net profit margin improved to 5.3% from -5.4% in the previous quarter.

• Gross margin improved, and basic EPS was KRW 434, compared to a loss of KRW 2,752 per share in the previous year.

Outlook and guidance

• Management expects continued growth in energy materials, driven by global EV and ESS demand, despite short-term volatility from government subsidy reductions and high interest rates.

• Ongoing investments in production capacity and technology are expected to support long-term competitiveness and market share.

• Forward-looking statements indicate expectations of continued operational improvements, but results remain subject to market and industry risks.