Sanil Electric (A062040) Q2 2025 earnings summary

Executive summary

• Achieved all-time high quarterly revenue of KRW 128.3 billion in Q2 2025, up 70.6% year-over-year and 29.9% sequentially.

• 2025 H1 revenue was KRW 227.1 billion, with 96% from exports, mainly to the US (75% of sales).

• Operating profit reached a record KRW 46.3 billion in Q2 2025, up 89.0% year-over-year and 23.5% quarter-over-quarter.

• Net income for Q2 2025 was KRW 37.9 billion, a 119.1% increase year-over-year.

• Added a new subsidiary, Sanil Energy, in 2025 to expand renewable energy business.

Financial highlights

• 2025 H1 consolidated revenue: KRW 227.1 billion (down from KRW 334.0 billion in 2024 H1).

• Operating income: KRW 83.7 billion (margin ~36.9%).

• Net income: KRW 69.1 billion; basic EPS: KRW 2,275.

• Gross profit for Q2 2025 was KRW 61.3 billion, up from KRW 46.8 billion in Q1 2025.

• Cash and equivalents: KRW 54.5 billion; total assets: KRW 561.9 billion.

Outlook and guidance

• Over 80% of new orders in Q2 2025 originated from North America.

• Expects continued growth in US and global transformer markets, driven by grid upgrades and renewable energy expansion.

• New orders declined 45.4% sequentially due to tariff concerns, impacting order volume.

• Renewable energy subsidiary is in development phase; future revenue expected as projects mature.

• Plans to establish a US subsidiary and local service center to increase market share.