EcoPro BM Posts Q3 Operating Profit of 12 Billion Won, Down 76% YoY

ESS revenue surges 173%
Posts profit for the seventh consecutive quarter

EcoPro BM reported consolidated revenue of 557.9 billion won and operating profit of 12 billion won for the third quarter of this year, according to a regulatory filing on November 5. Revenue fell 10.7% and operating profit declined 76.2% from the same period a year earlier.

EcoPro BM corporate identity. EcoPro BM

Revenue from cathode materials for electric vehicles fell from the previous quarter to 256.1 billion won, due to slower growth in the North American electric vehicle market and inventory adjustments by European automakers.

By contrast, revenue from cathode materials for energy storage systems (ESS) rose 173% from the previous quarter to 123.6 billion won, as investment in artificial intelligence data centers expanded. Revenue from power applications also increased 16% to 169.7 billion won, driven by the expansion of semiconductor manufacturing facilities and data center construction.

EcoPro BM expects demand in areas beyond electric vehicles, including ESS, to remain solid in the fourth quarter, supported by increased investment in AI infrastructure and growth in the renewable energy market.

The company is also strengthening its overseas production base. It currently operates two production lines at its plant in Debrecen, Hungary, and plans to use them to meet demand from European automakers. In particular, it aims to enhance its local production competitiveness in preparation for stricter requirements taking effect from 2027 onward for the use of battery materials produced within Europe.

EcoPro BM is also completing its equity investment in BNSI, a nickel smelter in Indonesia, and preparing to begin commercial operations in the first half of 2027. Its strategy is to strengthen cost competitiveness and stabilize raw material supply through vertical integration spanning nickel sourcing and cathode material production.

EcoPro BM CEO Song Hojun said, "Despite the slowdown in electric vehicle demand in North America, we responded quickly to demand for ESS and power applications driven by the spread of AI infrastructure, maintaining our profitability." He added, "We will further solidify our position as a key global cathode material supplier by successfully completing mass production at our plant in Hungary and our investment in the Indonesian smelter."

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