3Q23 Quarterly Earnings
2023. 10. 26
This document is provided for the convenience of investors only, before the external audit on our 4Q22 financial results is completed. The audit outcome may incur change in parts of this document.
3Q23 Earnings and Financial Status
Sales & Profit | Unit : Bn KRW | ||||
Items | '23.3Q | '23.2Q | QoQ | '22.3Q | YoY |
Revenue | 5,948.1 | 5,840.6 | +1.8% | 5,368.0 | +10.8% |
Batteries | 5,338.4 | 5,268.7 | +1.3% | 4,832.3 | +10.5% |
Electronic Mat. | 608.2 | 570.5 | +6.6% | 533.9 | +13.9% |
Operating Profit | 496.0 | 450.2 | +10.2% | 565.9 | △12.3% |
(%) | (8.3%) | (7.7%) | (10.5%) | ||
Batteries | 411.8 | 388.1 | +6.1% | 484.8 | △15.1% |
(%) | (7.7%) | (7.4%) | (10.0%) | ||
Electronic Mat. | 84.2 | 62.1 | +35.6% | 81.1 | +3.8% |
(%) | (13.8%) | (10.9%) | (15.2%) | ||
Non-operating | 264.4 | 133.0 | +98.8% | 300.5 | △12.0% |
Profit | |||||
Pre-tax Profit | 760.4 | 583.2 | +30.4% | 866.4 | △12.2% |
(%) | (12.8%) | (10.0%) | (16.1%) | ||
Net Profit | 622.4 | 485.8 | +28.1% | 638.3 | △2.5% |
(%) | (10.5%) | (8.3%) | (11.9%) | ||
B/S Summary | Unit : Bn KRW |
Items | '23.3Q | '23.2Q | QoQ | '22.3Q | YoY |
Assets | 33,546.7 | 32,902.8 | +2.0% | 30,367.4 | +10.5% |
Liabilities | 14,322.7 | 14,450.2 | △0.9% | 13,460.3 | +6.4% |
Equity | 19,224.0 | 18,452.6 | +4.2% | 16,907.1 | +13.7% |
D/E Ratio | 75% | 78% | △3%p | 80% | △5%p |
EBITDA
(Bn KRW) | EBITDA | % | ||||
17.6% | ||||||
1,200 | 15.4% | |||||
14.6% | 14.8% | 15.1% | ||||
1,000 |
800
600
400
200
0
'22.3Q | '22.4Q | '23.1Q | '23.2Q | '23.3Q |
2
Results & Outlook
Earnings and Forecast
Large-sized LIB
3Q23 Results
Revenue & profit up centering on xEV battery sales
-
xEV battery sales had record quarterly profitability, thanks to strong P5 sales with early ramp-up of Hungary plant's new line
Mid-to-long term growth preparation by expanding JV plants in the US and securing a new customer - ESS sales declined due to pent-up demand for new product in 4Q
4Q23 Outlook
Revenue & profit expected to go up
-
xEV battery sales expansion to continue with solid P5 sales
To continue project acquisition activities with P6 and solid-state batteries - ESS to have sales growth propelled by new product with higher energy density and safety for Utility & UPS
Small소형-sized전지LIB
3Q23 Results
Flattish revenue despite slowed market demand
- Cylindrical sales down in power tool but up in EV leading to slightly higher revenue overall
- Pouch sales declined owing to weakened IT market demand
4Q23 Outlook
Demand to remain muted but efforts to continue for sales expansion and pursuit of new demand
-
Cylindrical sales drive to be centered around mobility applications such as EV and E-Bike
To launch new product and seek new business opportunities with active sales operation in Southeast and West-Asia
46Φ battery to start sample delivery to customers - Pouch batteries to enter key customer's new models
4
Earnings and Forecast
Electronic Materials
3Q23 Results
Despite stagnant market, revenue up thanks to high sales of display materials
- OLED materials led EM revenue and profit improvement owing to high demand for mobile device
- Polarizer film revenue increased with favorable big-screen TV demand
- Semiconductor materials revenue declined due to major customer's slowed demand
4Q23 Outlook
Preemptive response to prospective market recovery
- OLED materials sales to increase steadily with mass production start of a new platform
- Polarizer film to expand sales for Chinese and new customers
- Semiconductor materials to have higher sales with supply initiation of new products
Large-sized LIB | Total Revenue | |
Small-sized LIB | [Unit: Tn KRW] | |
Electronic Materials | ||
6.0 | 5.8 | 5.9 |
5.45.4
3Q22 | 4Q22 | 1Q23 | 2Q23 | 3Q23 |
5
Appendix
Consolidated Income Statement
Unit: Bn KRW | |||||||||
Items | 2Q22 | 3Q22 | 4Q22 | FY22 | 1Q23 | 2Q23 | 3Q23 | ||
Revenue | 4,740.8 | 5,368.0 | 5,965.9 | 20,124.1 | 5,354.8 | 5,840.6 | 5,948.1 | ||
COGS | 3,728.0 | 4,194.0 | 4,787.4 | 15,903.3 | 4,403.4 | 4,812.0 | 4,923.5 | ||
Gross Profit | 1,012.8 | 1,173.9 | 1,178.5 | 4,220.7 | 951.5 | 1,028.6 | 1,024.6 | ||
(%) | (21.4%) | (21.9%) | (19.8%) | (21.0%) | (17.8%) | (17.6%) | (17.2%) | ||
Operating Profit | 429.0 | 565.9 | 490.8 | 1,808.0 | 375.4 | 450.2 | 496.0 | ||
(%) | (9.0%) | (10.5%) | (8.2%) | (9.0%) | (7.0%) | (7.7%) | (8.3%) | ||
Non-operating Profit | 99.8 | 300.5 | 312.4 | 844.3 | 185.9 | 133.0 | 264.4 | ||
Pre-tax Profit | 528.8 | 866.4 | 803.2 | 2,652.3 | 561.3 | 583.2 | 760.4 | ||
(%) | (11.2%) | (16.1%) | (13.5%) | (13.2%) | (10.5%) | (10.0%) | (12.8%) | ||
Tax | 119.6 | 228.1 | 174.0 | 612.9 | 96.8 | 97.4 | 138.0 | ||
Net Profit | 409.2 | 638.3 | 629.2 | 2,039.4 | 464.5 | 485.8 | 622.4 | ||
(%) | (8.6%) | (11.9%) | (10.5%) | (10.1%) | (8.7%) | (8.3%) | (10.5%) | ||
NP less Minority | 391.3 | 602.9 | 601.3 | 1,952.1 | 439.3 | 460.5 | 613.2 | ||
Interests (%) | (8.3%) | (11.2%) | (10.1%) | (9.7%) | (8.2%) | (7.9%) | (10.3%) | ||
Depreciation | 355.6 | 376.8 | 380.5 | 1,463.3 | 417.4 | 429.3 | 422.3 | ||
CAPEX
589.7
518.1
840.7
2,518.1
618.8
859.7
870.6
7
Consolidated Balance Sheet
Unit: Bn KRW | ||||||
Items | 2Q22 | 3Q22 | FY22 | 1Q23 | 2Q23 | 3Q23 |
Assets | 28,841.9 | 30,367.4 | 30,257.5 | 32,407.4 | 32,902.8 | 33,546.7 |
Current Assets | 9,418.2 | 10,343.9 | 9,651.7 | 10,746.8 | 10,437.4 | 9,879.2 |
Cash & Cash Equiv* | 2,567.1 | 3,290.2 | 3,097.3 | 3,905.6 | 3,637.2 | 2,522.5 |
A/R & Others | 3,493.2 | 3,488.2 | 3,349.8 | 3,537.0 | 3,564.4 | 4,015.4 |
Inventory | 3,358.0 | 3,565.4 | 3,204.5 | 3,304.1 | 3,235.8 | 3,341.4 |
Non-current Assets | 19,423.7 | 20,023.5 | 20,605.8 | 21,660.6 | 22,465.4 | 23,667.5 |
Investment Assets | 9,762.9 | 9,817.4 | 10,144.7 | 10,616.7 | 10,753.2 | 11,071.7 |
Tangible & | 9,163.2 | 9,696.8 | 9,780.4 | 10,414.4 | 11,057.8 | 11,922.4 |
Intangible Assets | ||||||
Others | 497.6 | 509.3 | 680.8 | 629.5 | 654.5 | 673.4 |
Liabilities | 12,793.8 | 13,460.3 | 13,040.0 | 14,408.2 | 14,450.2 | 14,322.7 |
Current Liab. | 7,550.7 | 8,291.4 | 8,006.9 | 9,108.7 | 9,489.2 | 9,091.8 |
Non-current Liab. | 5,243.1 | 5,168.9 | 5,033.1 | 5,299.4 | 4,961.0 | 5,231.0 |
Shareholders' Equity | 16,048.1 | 16,907.0 | 17,217.5 | 17,999.2 | 18,452.6 | 19,224.0 |
Paid-in Capital | 356.7 | 356.7 | 356.7 | 356.7 | 356.7 | 356.7 |
D/E Ratio | 80% | 80% | 76% | 80% | 78% | 75% |
* Short-term financial instruments included | 8 |
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Samsung SDI Co. Ltd. published this content on 25 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2023 10:45:06 UTC.