Solus Advanced Materials (A336370) Q1 2025 earnings summary

Executive summary

• Q1 2025 sales rose 29.9% year-over-year to KRW 157.6 billion but fell 4.9% sequentially due to lower supply volumes for battery copper foil and OLED products.

• EBITDA dropped 32.0% year-over-year and 78.5% quarter-over-quarter to KRW 1.7 billion, reflecting increased fixed cost burden from reduced supply to Europe/North America.

• Operating loss widened to KRW -153 million in Q1 2025 from KRW -113 million in Q4 2024.

Financial highlights

• Gross profit for Q1 2025 was KRW 11.6 billion, with a gross margin of 7.4%.

• Net loss for Q1 2025 was KRW -3.19 billion, compared to a net profit of KRW 1.26 billion in Q1 2023.

• Total assets reached KRW 2.13 trillion as of March 2025, with a debt ratio of 101%.

Outlook and guidance

• Battery copper foil sales in Europe are expected to recover as EV demand rebounds and local supply expands.

• Copper foil segment aims to grow high-end product supply for AI market customers.

• Electronic materials division targets increased sales in mobile/IT and new non-emissive products.