SKC (011790) Q3 2026 earnings summary

Executive summary

• Q3 revenue was ₩6,389억원; operating loss was ₩496억원, EBITDA was ₩192억원, and net loss was ₩1,285억원.

• Revenue rose ₩1,319억원 YoY but fell ₩65억원 QoQ; operating loss widened ₩352억원 QoQ.

• Results reflected battery-materials transition costs and one-time inventory losses, while semiconductor materials remained profitable.

Financial highlights

• Revenue was ₩6,389억원 vs. ₩5,070억원 in Q3 2025 and ₩6,454억원 in Q2 2026.

• Operating loss was ₩496억원 vs. losses of ₩549억원 YoY and ₩144억원 QoQ; EBITDA was ₩192억원, a YoY turnaround from a ₩107억원 loss.

• Pretax loss was ₩1,249억원; net loss was ₩1,285억원, compared with ₩990억원 and ₩822억원 losses in Q3 2025 and Q2 2026, respectively.

• Gross profit was ₩331억원, down from ₩703억원 in Q2; financial costs were ₩1,057억원, up from ₩689억원 QoQ.

Outlook and guidance

• Q4 plans target dongkuk foil competitiveness, with higher selling prices for ESS and EV demand applied from during the quarter and Malaysia operating profit reaching breakeven.

• Glass-substrate plans include continued reliability testing and yield stabilization for embedding products, and further mobile-communications PoC discussions and non-embedding projects.

• Glass-substrate commercialization milestones include ongoing substrate-level evaluation for embedding and PoC selection discussions for mobile communications non-embedding.