SKC連續第15季錄得虧損，第三季虧損收窄

(Photo: SKC)

SKC narrowed its operating loss in the third quarter from a year earlier but remained in the red for the 15th consecutive quarter. Its battery materials business continued to weigh on earnings, while its semiconductor materials business maintained growth amid booming demand for artificial intelligence (AI) data centers.

SKC said on Oct. 28 that consolidated third-quarter revenue reached 638.9 billion won, with an operating loss of 49.6 billion won. Revenue rose about 26% from a year earlier, while the operating loss narrowed by 5.3 billion won from 54.9 billion won in the same period last year.

The company has posted operating losses for 15 consecutive quarters since the first quarter of 2023, reflecting a prolonged downturn in the battery market caused by slowing growth in electric vehicle demand.

The copper foil business, led by subsidiary SK Nexilis, was particularly weak. The business recorded third-quarter revenue of 248.2 billion won and an operating loss of 53.3 billion won. SK Nexilis aims to return to profitability in the fourth quarter by expanding supply, primarily from its Malaysian plant.

In contrast, the semiconductor materials business helped cushion overall earnings through improved profitability. The segment posted revenue of 71.8 billion won and operating profit of 21.8 billion won, supported by sales related to AI data centers, automotive applications, robotics and non-memory semiconductors. The chemicals business also recorded its third consecutive quarterly profit, with revenue of 317.3 billion won and operating profit of 13.4 billion won.

SKC also improved its overall financial position. The company raised 1 trillion won in cash through a rights offering in the first half of this year, allocating 410 billion won to debt repayment. As a result, its debt-to-equity ratio fell to 122% from 233% at the end of last year. The remaining 590 billion won will be invested in glass substrates, a next-generation growth business led by subsidiary Absolics.

The glass substrate business is making progress. For non-embedded products under development for mobile communications applications, the company is discussing proof-of-concept (PoC) testing with customers. It is also pursuing new projects with multiple customers. For embedded products, the company is focusing on reliability testing and improving production yields.

"We have completed preparations for a full-scale turnaround," SKC said. "Going forward, we will deliver tangible results by strengthening our business competitiveness and improving profitability."