SK IE Technology (A361610) Q1 2026 earnings summary

Executive summary

• 1Q26 saw a slowdown in global EV market growth and a sequential revenue decline due to early-year inventory destocking by key customers.

• Strategic focus is shifting to the Poland plant to enhance competitiveness and scale efficiency, with increased emphasis on EU and US markets.

Financial highlights

• 1Q26 sales were KRW 35.9B, down from KRW 41.8B in 4Q25 and KRW 58.2B in 1Q25.

• Gross profit for 1Q26 was KRW 52.0B, up KRW 3.9B sequentially and KRW 9.8B year-over-year.

• Operating profit reached KRW 73.2B, up KRW 2.6B sequentially and KRW 3.6B year-over-year.

• Net profit for 1Q26 was KRW 81.8B, up KRW 48.9B sequentially and KRW 60.1B year-over-year.

• EBITDA for 1Q26 was KRW 39.4B, up KRW 1.3B sequentially and KRW 6.7B year-over-year.

Outlook and guidance

• SCM focus will shift to the Poland plant to address demand in Europe and North America.

• Continued growth expected in ESS and EV markets, with regional incentives supporting local manufacturing.