Solum (248070) Q1 2025 earnings summary

Executive summary

• Operates in electronic components and ICT sectors, focusing on R&D and manufacturing with global subsidiaries in China, Vietnam, Mexico, India, and more.

• Main business lines: power modules, 3IN1 boards, ESL (Electronic Shelf Label), IoT products.

• Listed on KOSPI since 2021; not classified as SME or venture business.

Financial highlights

• Q1 2025 consolidated revenue: KRW 397.4 billion, down from KRW 1,594.4 billion in FY2024.

• Q1 2025 operating income: KRW 11.5 billion, net income: KRW 2.5 billion.

• Gross margin for Q1 2025: KRW 66.7 billion.

• Debt ratio increased to 151.89% at Q1 2025 from 126.25% at FY2024 end.

• Basic EPS for Q1 2025: KRW 64, down from KRW 812 in FY2024.

• Cash and cash equivalents at Q1 2025: KRW 102.9 billion.

Outlook and guidance

• Expanding into healthcare wearables and secondary battery reuse, targeting high-growth markets.

• Plans to leverage existing technology and customer base for new business lines.

• Focus on cost reduction, product diversification, and global market expansion.