Samsung SDI’s share price continues to rise thanks to its strong performance in the first quarter. The future prospects for the stock market are also bright.
On April 29, Samsung SDI closed at 611,000 won, up 2.17% from the previous trading day. At one point during the day, it rose 5.02% to 628,000 won.
Samsung SDI announced that it achieved sales of KRW 4.494 trillion and operating profit of KRW 322.3 billion in the first quarter of this year. Compared to the same period last year, sales increased 36.7% and operating profit increased 142%. It is the first time since its foundation that Samsung SDI surpassed 4 trillion won in quarterly sales. Operating profit was also the best in the first quarter. On a quarterly basis, it is the second-ever operating profit after 373.5 billion won recorded in the third quarter of 2021. It is even more meaningful in that it achieved good results in the first quarter, which was considered a traditional low season in the battery market.
Among them, the energy and other sectors in charge of the battery business recorded 3.31 trillion won in sales and 165 billion won in operating profit. Compared to the first quarter of last year, they increased by 6.8% and 37.3%, respectively. Sales of Gen5 batteries for electric vehicles expanded, and the impact of raw material price hikes was minimized through linkage with selling prices, resulting in good results. In the small battery sector, sales also increased compared to the previous quarter and profitability improved by overcoming the off-season. Cylindrical batteries increased sales mainly for electric vehicles and high-output power tools, and pouch-type batteries increased sales as they were supplied to new smartphones.
The future prospects are also bright. Sales volume is expected to increase centering on mid- to large-sized batteries. Michael Son, vice president of Samsung SDI, said, “As the sales of new models from major customers equipped with Zen 5 batteries are in full swing, it is a great help in improving earnings. The growth of small-sized batteries is expected to continue centering on cylindrical batteries. Samsung SDI explained that it is in the process of expanding its lines at domestic and overseas bases to respond to the growing demand for cylindrical batteries.
Meanwhile, Samsung SDI also announced its future strategy for establishing a North American joint venture (JV) with Stellantis through a conference call that was held on the same day. “The establishment of the joint venture has entered the final stage,” he said. “We are discussing the establishment of a global base including the United States as well as North America while setting up a mid- to long-term strategy for the future after the establishment of the joint venture.”
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