Solus Advanced Materials (A336370) Q4 2025 earnings summary

Executive summary

• Q4 consolidated sales reached 169.8 billion won, up 2.5% year-over-year and 17% quarter-over-quarter, driven by Copper Foil and OLED demand.

• Annual 2025 sales hit a record 616.4 billion won, up 8% from 2024, led by high-value Copper Foil products.

• EBITDA for Q4 was -1.5 billion won, a year-over-year decline but improved sequentially; annual EBITDA was -2.6 billion won, down from 15.4 billion won in 2024.

• EBIT for Q4 was -20.1 billion won, a larger deficit year-over-year but slightly improved from the previous quarter.

Financial highlights

• Q4 Battery Foil sales were 41.6 billion won, down 48.1% year-over-year but up 14.3% quarter-over-quarter.

• Q4 Copper Foil sales surged 80.2% year-over-year and 24.9% quarter-over-quarter to 95.7 billion won.

• Q4 OLED sales grew 0.6% year-over-year and 1.6% quarter-over-quarter to 32.6 billion won.

• Annual Battery Foil sales dropped 26% year-over-year to 183.7 billion won.

• Annual Copper Foil sales rose 56.2% year-over-year to 306.5 billion won.

Outlook and guidance

• Battery Foil supply for ESS applications in North America is expanding, with new customers targeted in H1 2026.

• Copper Foil Division sales to be completed by H1 2026, shifting focus to Battery Foil and OLED.

• High-end Battery Foil share to rise from 30% to over 50% in 2026, improving product mix and profitability.

• OLED business to focus on IT devices, large TVs, and luxury car displays, leveraging new plant capacity.