L&F Swings to Profit in Q2... Operating Profit Reaches 20.8 Billion Won

On August 6, L&F announced in a disclosure that, on a consolidated basis, its operating profit for the second quarter of this year reached 20.8 billion won, turning a profit compared to the same period last year.

Revenue stood at 885 billion won, an increase of 70.2% year-on-year. Net income also turned positive to 52.9 billion won.

Driven by the expansion of high-nickel cathode sales, the company’s quarterly shipment volume for the second quarter achieved an all-time high. L&F reported, “Stable exclusive supply of ultra-high-nickel products and increased sales of 46-pi products for new customers in North America led to strong performance,” adding, “Sales of 46-pi products exceeded our initial plans for the year.”

Recently, L&F completed the shipment of LFP (lithium iron phosphate) prototypes for energy storage systems (ESS) to multiple customers. The company plans to begin full-scale supply of these products from the end of the third quarter.

This year’s LFP shipments are expected to surpass initial targets, and shipments are forecast to exceed 50,000 tons next year.

L&F CFO Ryu Seungheon stated, “In the third quarter, as new projects for single-crystal high-nickel products and LFP supply for North American ESS customers take off, we will accelerate our dual-track growth strategy centered on both NCM and LFP.”

This content was produced with the assistance of AI translation services.