Chunbo (A27828) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was ₩144.9 billion, down 21% year-over-year, with an operating loss of ₩22.8 billion, a deterioration of ₩14.7 billion from the previous year.

• Net loss for 2024 was ₩32.3 billion, compared to a net loss of ₩45.5 billion in 2023.

• The main driver of the revenue decline was a contraction in the secondary battery market and falling raw material prices, leading to lower sales prices and demand.

Financial highlights

• 2024 revenue: ₩144.9 billion (2023: ₩182.7 billion; 2022: ₩328.9 billion).

• Operating loss: ₩22.8 billion (2023: ₩8.0 billion loss; 2022: ₩56.5 billion profit).

• Net loss: ₩32.3 billion (2023: ₩45.5 billion loss; 2022: ₩42.8 billion profit).

• ROE: -9.76% (2023: -14.22%).

• Cash and cash equivalents at year-end: ₩15.9 billion.

Outlook and guidance

• Management expects continued global economic risks in 2025, including geopolitical tensions and trade barriers, but anticipates some stabilization from global interest rate cuts and recovery in EV demand.