EcoPro BM (247540) Q2 2026 earnings summary

Executive summary

• Sales declined 4.7% sequentially and 26% year-over-year in 2Q26, mainly due to stagnant EV demand in North America and flat sales in Europe amid OEM model changes.

• Operating profit dropped 14% QoQ and 63% YoY to KRW 18.0 bn, reflecting Hungary plant ramp-up costs.

• EBITDA margin improved slightly to 7.1% in 2Q26 from 6.4% in 1Q26, but down from 9.9% YoY.

Financial highlights

• 2Q26 revenue was KRW 5,767 bn, down 5% QoQ and 26% YoY.

• Operating profit was KRW 180 bn, with an operating margin of 3.1%.

• EBITDA reached KRW 407 bn, with a margin of 7.1%.

• Net income for 2Q26 was -KRW 5 bn, a significant decline from KRW 122 bn in 1Q26.

Outlook and guidance

• North American market expected to remain slow due to the end of consumer subsidies.

• European OEM model changes to negatively impact sales, but new vehicle launches may offset this.

• Non-EV sectors, especially Power Applications, are expected to grow, driven by data center expansion and E-bike demand in Southeast Asia.