Samsung SDI : Third-Quarter Net Profit Rose 11%, Driven by Brisk EV Battery Sales in Europe

By Kwanwoo Jun

Samsung SDI Co.'s third-quarter net profit rose 11% from a year earlier thanks to brisk sales of electric-vehicle batteries in Europe.

Net profit was 240.69 billion Korean won ($212.5 million), compared with net profit of KRW217.37 billion in the same quarter a year earlier, the South Korean battery maker said Tuesday. That beat a FactSet consensus forecast for net profit of KRW216.44 billion.

Revenue rose 20% to KRW3.087 trillion, while operating profit jumped 61% to KRW267.35 billion.

Write to Kwanwoo Jun at [e-mail]

(END) Dow Jones Newswires

10-27-20 0043ET