Solus Advanced Materials (A336370) Q3 2024 earnings summary

Executive summary

• Sales in 3Q24 rose 21.1% year-over-year to KRW 134.7 billion but declined 9.8% sequentially due to inventory adjustments and temporary demand decreases from major customers.

• EBITDA increased 6.8% year-over-year but turned negative compared to the previous quarter, reflecting higher fixed costs amid lower sales.

Financial highlights

• 3Q24 sales: KRW 134.7 billion, up 21.1% YoY, down 9.8% QoQ.

• EBITDA up 6.8% YoY but negative QoQ.

• Operating loss of KRW 18.6 billion in 3Q24, with a margin of -13.9%.

• Net loss of KRW 36.3 billion in 3Q24.

• Gross profit for 3Q24 was KRW 6.1 billion.

Outlook and guidance

• Elecfoil: Plans to expand supply by increasing shipments and promoting high value-added products.

• Copper foil: Plans to expand high-end product supply to AI markets and major tech customers.

• Electronic materials: Plans to diversify product portfolio for customers.