SK IE Technology (A361610) Q3 2025 earnings summary

Executive summary

• Revenue for 3Q25 was KRW 79.0B, up 28.2% year-over-year, while revenue for the first nine months of 2025 was KRW 220.0B, nearly flat year-over-year but down sharply from 2023 due to discontinued operations and market headwinds.

• Operating profit for 3Q25 was KRW 47.2B, but the nine-month period saw an operating loss of KRW 170.6B, reflecting margin pressure and increased costs.

• Net profit for 3Q25 was KRW 40.0B, while the nine-month net loss was KRW 80.7B.

• Cost-saving initiatives, order expansion for new applications, and restructuring, including the sale of the FCW business, contributed to improved results and impacted reported figures.

• A third-party paid-in capital increase in August 2025 raised KRW 300B, strengthening the balance sheet.

Financial highlights

• Gross profit for 3Q25 was KRW 24.7B, nearly flat sequentially but up KRW 19.4B year-over-year.

• EBITDA for 3Q25 was KRW 11.8B, down from KRW 17.9B in 2Q25 and KRW 33.6B in 3Q24.

• SG&A expenses decreased by KRW 6.5B sequentially.

• Cash and cash equivalents at period end were KRW 483.3B, up from KRW 276.3B at the start of the year.

• Basic loss per share for 2025 Q3 YTD was KRW -1,100.

Outlook and guidance

• Ongoing efforts to improve costs, expand orders for new applications, and invest in next-generation EV and semi-solid state battery projects.

• No dividend is planned; available cash is prioritized for investment and growth.

• Management expects continued market volatility but is focused on strengthening its position in the EV and ESS battery separator markets.