Solum (248070) Q2 2025 earnings summary

Executive summary

• Achieved highest quarterly sales since 2023 3Q, driven by strengthened global sales and business strategy execution.

• Mega Project for a major North American customer progressing well, expected to drive mid-term topline growth.

• Acquired GDK Cosmetics, a stable cash-generating business, with positive impact expected from 3Q.

Financial highlights

• 2Q25 sales reached KRW 402.6 bn, up 8.6% year-over-year and 5.2% sequentially.

• Operating profit was KRW 12.2 bn, down 8.3 bn year-over-year but up 0.7 bn sequentially.

• EBITDA stood at KRW 24.1 bn, down 7.3 bn year-over-year, up 1.8 bn sequentially.

• Net income was KRW 10.2 bn, down 5.0 bn year-over-year, but up 7.7 bn sequentially.

• Gross margin improved to 16.5%, up 0.5 percentage points year-over-year.

Outlook and guidance

• Sales and profit in Electronics expected to recover to normal levels in 3Q with improved production utilization.

• GDK Cosmetics acquisition anticipated to positively impact consolidated financials starting 3Q.