According to the latest information, Samsung SDI has announced the Q3, 2022 earnings report. Samsung has achieved a profit margin of 10% in the battery business.
The sale gets an eye-catching milestone record of 5,368 billion won in sales and 565.9 billion won in operating profit in the third quarter. It increased by 56.1% and 51.5% YoY, respectively. The earnings were released during the conference call.
Indeed, the third quarter of 2022 achieved the highest quarterly performance as sales and operating profit increased significantly compared to the previous quarter despite the difficult business environment such as the global economic downturn.
The Q3 2022 sales reached KRW 5,368 billion, up 13% from the previous quarter and 56% from the same period of the previous year, breaking the record for the highest quarterly sales once again.
Operating profit recorded KRW 565.9 billion, up 32% from the previous quarter and 52% from the same period last year, and operating profit also recorded the highest quarterly performance.
In terms of the business division, sales in the energy sector amounted to KRW 4.834 trillion, an increase of approximately 19% compared to the previous quarter and 76% compared to the same period of the previous year. Operating profit in the energy sector was KRW 484.8 billion, up 98% QoQ and 140% YoY.
In particular, in the energy sector, sales of EV batteries. Electronic materials sales were 534 billion won, down 20% from the previous quarter and 24% from the same period last year due to slowing demand. Operating profit was 81.1 billion won, down 56% QoQ and 53% YoY.