Q4 2024 Samsung SDI Co Ltd Earnings Call Transcript
Key Points
- Samsung SDI Co Ltd (FRA:XSDG) successfully initiated early operation at the Stellantis joint venture Starplus Energy in the US, securing high yield and quality.
- The company finalized a joint venture agreement with GM, expanding its EV business in the US.
- ESS battery revenue reached a record high due to increased sales backed by growing power demand for data centers.
- Samsung SDI Co Ltd (FRA:XSDG) received CO2 footprint verification from Carbon Trust and platinum validation for zero waste to landfill at all sites.
- The company is enhancing cooperation with multiple OEMs for 465 battery projects, with some products in the final stages of securing orders.
- Q4 revenue decreased by 5% quarter-on-quarter and 29% year-on-year due to slowing market demand.
- Operating profit reported a deficit of KRW257 billion, including results from discontinued operations.
- The battery business reported a significant drop in operating profit due to lower utilization and increased fixed costs.
- Demand for power tool and micro mobility batteries declined, impacted by the sluggish housing market and weakened consumer purchasing power.
- Samsung SDI Co Ltd (FRA:XSDG) plans to pay no dividend for the next three years due to negative free cash flow projections.
Good morning. Thank you for joining today's earnings call.
After the presentation. We'll have the Q&A session with the analyst. (Operator Instructions) If you have any questions. Now we will begin Samsung SDI 2024 4Q earnings call.
Good morning. I'm Yoontae Kim, Vice President of Business Management Office at Samsung SDI. First thank you for joining today's earnings call. And joining me are CFO, Jongsung Kim; EVP, Jongsun Park representing Automotive and ESS Battery; EVP, Hanjae Cho for Small Battery; and VP, Kyongho Yoon for Electronic Materials.
We will provide simultaneous interpretation for the earnings presentation and consecutive interpretation for the journey session. Now I will begin Samsung SDI's 2024 Q4 earnings call.
First of all, please note that starting with the Q3 results, the profit or loss from discontinued operations is separately stated due to the decision to discontinue the polarizer film business. And today's presentation will also
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