Samsung SDI is gradually increasing battery sales and soon could experience a significant boost thanks to new EV/PHEV models.
South Korean lithium-ion battery manufacturer Samsung SDI released Q2 financial results, which hints at sustained growth of battery sales, general revenues and net profits.
Sales of the “Large-sized LIB” were recently driven up thanks to “key EU customers” for xEV batteries and energy storage projects in the U.S. and South Korea.
Samsung SDI Q2 2019 results:
- Revenue: ≈$2.03 billion (up 7% year-over-year)
- Revenue (Li-ion Battery): ≈$1.54 billion (up 5% year-over-year and up 84% compared to 2017)
- Net Profit: ≈$135 million (up 53% year-over-year)
The near future is expected to bring record results as Samsung SDI announced shipment of batteries for new EV and PHEV models.
Here is a more detailed look at the Q2 results:
Source: Samsung SDI via evspecifications.com