Solus Advanced Materials (336370) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue was KRW 315,439 million; operating loss was KRW 83,815 million and net loss KRW 16,307 million, including KRW 96,072 million income from discontinued operations.

• Completed the Circuit Foil Luxembourg disposal on Apr. 28, 2026; it was removed from consolidation and its results were presented as discontinued operations, with comparative figures restated.

• Battery foil remained the largest continuing business by revenue; OLED generated operating profit while battery foil and advanced materials reported operating losses.

Financial highlights

• 9M revenue was KRW 315,439 million versus KRW 235,824 million in the restated prior-year period; Q3 revenue was KRW 125,506 million versus KRW 68,533 million.

• 9M gross loss was KRW 6,967 million and operating loss KRW 83,815 million, versus KRW 71,229 million and KRW 67,251 million, respectively, in the prior-year period.

• 9M continuing-operations loss was KRW 112,379 million; discontinued-operations income was KRW 96,072 million, resulting in net loss of KRW 16,307 million.

• Parent-attributable basic EPS was a KRW 795 loss from continuing operations and KRW 726 income from discontinued operations for 9M.

• Separate-entity 9M revenue was KRW 90,739 million, operating income KRW 303 million and net loss KRW 3,212 million.

Outlook and guidance

• Canadian battery-foil facility in Granby targets production start in 2027, with planned annual capacity of 25,000 tonnes to serve North American EV and ESS demand.

• Battery-foil strategy emphasizes high-end products, ESS market entry and next-generation battery materials; longer-term European capacity plans target 100,000 tonnes.

• OLED/advanced-materials subsidiary Solus I-Tech plans to expand production capacity to 103 tonnes by 2027 and develop high-function polymer materials for display applications.

• Management cited growing ESS demand, with a forecast of over 22% annual growth from 2025 to 2029, and continued OLED adoption across IT and automotive displays.