Solum (248070) Q4 2025 earnings summary

Executive summary

• Revenue for FY2025 was KRW 1,700.2 billion, up 6.6% year-over-year, while operating income declined 32.7% to KRW 46.5 billion and net income dropped 62.4% to KRW 14.2 billion.

• The company expanded its business portfolio, acquiring a majority stake in GDK Cosmetics and integrating new subsidiaries, while continuing investments in ESL, EV charger power, and digital signage.

• The debt ratio increased slightly to 127%, and ROE fell to 2.9% from 9.0% the previous year.

Financial highlights

• Total assets rose 29.9% to KRW 1,276.5 billion, with current assets at KRW 760.4 billion and non-current assets at KRW 516.1 billion.

• Total liabilities increased 30.2% to KRW 713.8 billion, and equity grew 29.6% to KRW 562.8 billion.

• EBITDA for FY2025 was KRW 91.1 billion, down from KRW 110.9 billion in FY2024.

• Cash and cash equivalents at year-end were KRW 156.8 billion, up from KRW 85.9 billion.

• Major customer Samsung Electronics and its subsidiaries accounted for KRW 827.0 billion in sales, or 48.7% of total revenue.

Outlook and guidance

• The company expects continued growth in ESL, VS, and power module businesses, with further expansion into healthcare and battery reuse sectors.

• Management anticipates a challenging external environment in 2026 due to global economic issues, protectionism, and currency volatility, but aims to strengthen technology leadership and manufacturing capabilities.