Q1 2026 Samsung SDI Co Ltd Earnings Call Transcript
Key Points
- Samsung SDI Co Ltd (FRA:XSDG) reported a 12.6% year-on-year increase in Q1 revenue, indicating strong growth compared to the previous year.
- The company secured significant project awards for utility ESS solutions from major US customers, strengthening its position in the growing ESS market.
- Samsung SDI Co Ltd (FRA:XSDG) expanded its customer base by signing a supply agreement with Mercedes-Benz, securing all three of Germany's top premium automotive brands as customers.
- The Electronic Materials business saw a 13% year-on-year increase in revenue and a 15% increase in operating income, driven by robust sales of semiconductor materials.
- The company is targeting a return to profitability in the second half of the year, supported by increasing local US ESS production and diversifying its customer base for electronic materials.
- Q1 revenue decreased by 7.3% from the previous quarter, indicating a short-term decline in performance.
- Operating income recorded a loss of KRW156 billion, although the loss narrowed compared to previous periods.
- The Battery business experienced a 7% quarter-on-quarter revenue decrease due to seasonality, impacting overall performance.
- The company faces challenges in meeting non-PFE regulations under the US OBBBA, requiring a gradual switch to a non-China supply chain for LFP cathode active materials.
- The European EV market has been negatively impacted by easing CO2 regulations, affecting demand and utilization rates at the Hungary plant.
Good morning. Thank you for joining Samsung SDI's earnings call. Today's schedule will follow Samsung SDI's presentation with a Q&A session for participants afterward. (Operator Instructions) We'll now begin Samsung SDI's 2026 first-quarter earnings call.
Good morning. I'm Yoon Tae Kim, Executive Vice President of the Finance and Accounting Team at Samsung SDI. To begin with, I'd like to thank everyone for joining today's earnings call. Joining me are EVP Jae-kyun Oh from Business Management Operations; EVP Yonghui Cho from ESS Business Team; VP Hoon Choi from Sales Team 3; and VP Ik Soo Kim from Strategic Marketing Team of Electronic Materials business. The earnings call presentation will be provided with simultaneous interpretation and Q&A session with consecutive interpretation. We'll now begin Samsung SDI's 2026 first-quarter earnings call.
I will start with financial results for the first quarter of 2026. Q1 revenue was KRW3.6 trillion, a 7.3% decrease
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