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L&F Co (066970) investor relations material
L&F Co Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue in 2Q 2025 reached 5,201 billion KRW, up 42.6% quarter-over-quarter, driven by strong new product sales and increased shipment volumes.
Operating loss narrowed by 13.6% quarter-over-quarter to -1,212 billion KRW, with ongoing margin pressure from raw material prices and FX rates.
Shipment volume rose 55% quarter-over-quarter, led by Hi-Ni products, which now account for 85% of shipments.
Inventory valuation losses and fixed cost burdens persisted, but inventory write-downs are expected to decrease in coming quarters.
Financial highlights
Revenue: 5,201 billion KRW in 2Q 2025, up 42.6% quarter-over-quarter.
Operating loss: -1,212 billion KRW, improved from -1,403 billion KRW in 1Q 2025.
Net loss: -1,126 billion KRW, with a net margin of -22%.
Gross margin remained negative at -988 billion KRW.
End-of-quarter cash balance fell to 1,476 billion KRW, down 51.6% quarter-over-quarter.
Outlook and guidance
Shipment growth trend expected to continue, with full-year 2025 shipment volume projected to rise 30–40% year-over-year.
Hi-Ni product shipments and market share recovery to drive further volume increases.
Inventory valuation losses expected to decrease as raw material purchase contracts end.
LFP business expansion planned, with mass production targeted for 4Q 2026 and supply to North American EV and ESS markets.
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