43.3% Growth in Sales
Samsung SDI Co. announced on January 23 that it achieved sales of 1.85 trillion won (US$1.73 billion) and operating profits of 118.6 billion won (US$110.64 million) in the fourth quarter in 2017. Accordingly, the company posted 6.32 trillion won (US$5.9 billion) in annual revenues and 116.9 billion won (US$109.07 million) in operating profits last year.
Samsung SDI showed a whopping 43.3 percent growth in sales in the fourth quarter last year compared to a year earlier. Its operating profits also grew 176.6 billion won (US$164.8 million) compared to the same period in 2016.
The company’s battery business division played a vital role in turning black. Its medium and large batteries reached the highest quarterly sales, boosted by the supply expansion of car batteries to Europe and the increase in commercial and power energy storage system (ESS) sales. Small batteries maintained the upward trend in sales thanks to the expansion of cylindrical battery to the garden tools market and the advance of polymer battery into the new smartphone market.
The company’s electronic material business division showed a drop in sales due to seasonal effects of solar paste but maintained profitability based on semiconductor and organic light emitting diode materials.
Samsung SDI is also forecast to gain an even growth in all business divisions in the first quarter this year. The supply of car batteries in the battery business division will be expanded to the European plug-in hybrid electric vehicle (PHEV) market, while the ESS division is expected to boost sales by the upturn in the domestic commercial market.
Small batteries will continue to increase in sales as the company’s major smartphone maker customers are to release new products and an increasing number of power tool producers is to adopt lithium-ion batteries.
Samsung SDI’s electronic material business division is forecast to show a fall in sales in the first quarter this year again due to a slow season in the IT market after the fourth quarter last year. However, it will maintain profitability through the expansion of polaroid film customers in China and the advance of semiconductor materials into new products.