Sanil Electric (A062040) Q3 2025 earnings summary

Executive summary

• Achieved all-time high quarterly revenue of 132.7 billion KRW in Q3 2025, up 66.5% year-over-year and 3.5% sequentially.

• Operating profit reached 42.7 billion KRW in Q3 2025, up 53.6% year-over-year but down 7.9% sequentially due to a one-off bad debt expense.

• Net income for Q3 2025 was 36.9 billion KRW, up 61.3% year-over-year.

• Achieved strong revenue growth to KRW 359.8 billion for the first nine months of 2025, up from KRW 214.5 billion in 2023 and KRW 334.0 billion in 2024.

• Over 96% of sales are from overseas, with the US accounting for about 72% of total revenue.

Financial highlights

• Revenue: 132.7 billion KRW in Q3 2025 (YoY +66.5%, QoQ +3.5%).

• Operating profit: 42.7 billion KRW in Q3 2025 (YoY +53.6%, QoQ -7.9%).

• Net income: 36.9 billion KRW in Q3 2025 (YoY +61.3%, QoQ -2.6%).

• Revenue for 2025 Q3 YTD: KRW 359.8 billion (2024: KRW 334.0 billion; 2023: KRW 214.5 billion).

• Cash and cash equivalents at Q3 2025: KRW 76.7 billion (2024: KRW 62.0 billion).

Outlook and guidance

• Expectation for resumed power grid deliveries as tariff cost-sharing negotiations conclude.

• Anticipates continued growth driven by global demand for power equipment and renewable energy investments.

• US market remains a key growth driver, with plans to establish a local subsidiary and service center.

• Renewable energy subsidiary expected to contribute to future revenue as projects complete.