Solus Advanced Materials (A336370) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue rose to KRW 189.9 billion, up 31.0% year-over-year and 15.7% quarter-over-quarter, driven by strong battery copper foil sales to Europe and North America.

• EBITDA loss narrowed to KRW 4.6 billion, improving 36.1% YoY and 73.6% QoQ due to higher sales and better capacity utilization.

• Battery copper foil revenue surged 63.0% YoY and 21.6% QoQ, while OLED revenue declined 15.4% YoY but rose 1.9% QoQ.

Financial highlights

• Q2 2026 sales: KRW 1,019 billion, up 15.7% QoQ and 31.0% YoY.

• Battery copper foil sales: KRW 750 billion, up 21.6% QoQ and 63.0% YoY.

• OLED sales: KRW 269 billion, up 1.9% QoQ, down 15.4% YoY.

• EBITDA: -KRW 46 billion, a significant improvement from -KRW 174 billion in Q1 2026.

• Operating income: -KRW 213 billion, improved from -KRW 324 billion in Q1 2026.

Outlook and guidance

• Plans to expand North American shipments via long-term contracts and ESS projects, and increase European sales and profitability through portfolio optimization.

• OLED business to focus on mass production of new products and expanding applications, targeting new customer wins and model expansion.

• European EV market expected to grow 36% YoY in H2 2026, with battery deployment projected at 160 GWh.

• North American EV sales projected to rise 5% YoY in H2 2026, with ESS installations up 24% YoY.