Solus Advanced Materials (336370) Q4 2024 earnings summary

Executive summary

• Annual sales rose 33.0% year-over-year to KRW 571 billion, driven by increased supply of battery copper foil and higher operating rates among OLED customers.

• Deficit narrowed compared to last year due to higher sales of high-end products and cost-saving initiatives.

Financial highlights

• EBITDA turned to surplus in 2024, with EBITDA margin improving from negative to positive.

• Operating loss reduced year-over-year, with business profits improving from -10% to -3% margin.

• Net income remained negative, but losses narrowed compared to the previous year.

Outlook and guidance

• 2025 sales forecasted to reach KRW 700 billion, a 23% increase year-over-year.

• Battery copper foil sales expected to grow 32%, copper foil 21%, and OLED 7% in 2025.

• Plans to expand high-end product supply and maximize production efficiency across divisions.