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SDI News Samsung SDI, General Motors Plan to Establish Joint Ventur..
□ Prospective joint venture to invest over $3 billion for more than 30GWh annual capacity □ Samsung SDI CEO Yoon-ho Choi remarks, “We will provide the products featuring the highest levels of safety and quality produced with our unrivalled technologies to help GM strengthen its leadership in the EV market.”□ General Motors CEO Marry Barra says, “The cells we will build together will help us scale our EV capacity in North America”SEOUL, Korea – April 25, 2023 Samsung SDI and General Motors (GM) today announced that they have agreed to establish a joint venture (JV) to manufacture battery cells for electric vehicles in the United States. Samsung SDI said the company and GM plan to invest over $3 billion in the JV that would have an annual production capacity of more than 30 gigawatts-hour. The prospective JV will aim to start mass production in 2026. Through the new JV plan, Samsung SDI will be able to further enhance its penetration into the U.S. market by establishing its second battery manufacturing facility in the country, while securing GM as a new customer in the market.  The JV will be dedicated to producing high-performing, nickel-rich prismatic and cylindrical batteries that will be exclusively supplied for GM’s upcoming electric vehicles.  Samsung SDI and GM are not announcing other details of the partnership, such as the location of the plant or an estimated employment, at this time. However, it is anticipated that thousands of jobs will be created through the JV establishment.“It is a great pleasure to take the very first step to create a long-term industry-leading partnership with GM in the U.S. electric car market,” remarked Samsung SDI President and CEO Yoon-ho Choi. "We will do our best to provide the products featuring the highest levels of safety and quality produced with our unrivalled technologies to help GM strengthen its leadership in the EV market." “GM’s supply chain strategy for electric vehicles is focused on scalability, resiliency, sustainability and cost-competitiveness. Our new relationship with Samsung SDI will help us achieve all these objectives,” said GM Chair and CEO Mary Barra. “The cells we will build together will help us scale our EV capacity in North America well beyond 1 million units annually.”

SDI News Samsung SDI’s Drive to Hire Top Talent in Full Swing
Samsung SDI’s Drive to Hire Top Talent in Full Swing □ Company begins massive hiring to seek those experienced in more than 50 job fields across all business units □ “We welcome talent aspiring to lead Samsung SDI’s Future” says Samsung SDI HR  SEOUL, Korea – April 21, 2023 – Samsung SDI today announced that it commenced an extensive hiring of experienced professionals on April 14, which encompasses the company’s all business units: the Automotive & ESS Business, the Small Battery Business, the Electronics Materials Business, and the SDI R&D Center.  The Automotive & ESS Business, the Small Battery Business, and the SDI R&D Center are looking to fill in positions of engineers to work on cell platform, manufacturing methods, product development, electrode process, facility development for the lithium-ion battery and the next-generation batteries. The Electronics Materials Business seeks to secure a talent pool specializing in developing materials for semiconductor processing and displays. Also recruiting those experienced is the company’s general management segment including business management and supply-chain management, and business planning. This talent attraction drive by Samsung SDI indicates how much importance the company is placing on securing top talent as its business growth is accelerating at such a scale as are the ongoing market expansion and fierce competition in the industry.  Since the inauguration in December 2021, Samsung SDI President and CEO YOONHO CHOI has been constantly reiterating the importance of securing and developing top talent as well as speedy execution of the Company’s three key strategies: ‘super-gap technology competitiveness,’ ‘best quality,’ and ‘profitable growth.’ As part of such drive, Samsung SDI held ‘Tech & Career Forum’ in New York and South Korea respectively last year targeting those in PhD programs of top schools worldwide. Since 2021, the company has signed a series of agreements with notable universities in Korea, including the likes of Seoul National University, POSTECH, KAIST, Hanyang University, Sungkyunkwan University, and UNIST, for raising future battery experts. “We are resolved to secure our edge in ‘super-gap technology competitiveness’ and our presence as a global leader by getting in as many talented people as possible,” noted Jae-woo Ahn, the vice president and leader of Samsung SDI’s People Team. “We welcome global talent aspiring to lead Samsung SDI’s future.” In this hiring spree, Samsung SDI keeps the recruiting channel open by 28th this month to receive applications and plans to finalize the results through application reviews, interviews and medical checks. Preferable qualifications include those who have graduated with a bachelor’s degree and worked in a relevant field for four years or more. For candidates who have graduated or are anticipated to graduate with a master’s degree or PhD, the period of their graduate study will be deemed equivalent to valid work experience period. Samsung Careers (samsungcareers.com) offers further details regarding the recruitment process for the experienced professionals.

SDI News Samsung SDI Announces First Quarter Results
Samsung SDI Announces First Quarter Results  Company announces new highs in first-quarter revenue and operating profit at KRW 5.3 trillion and KRW 375.4 billion  □ Q1 revenue surpasses KRW 5 trillion for three consecutive quarters□ Energy Business posts 44.6% and 91.7% in year-on-year revenue and operating profit respectively□ Company anticipates sales and profitability to continue expanding in Q2  SEOUL, Korea – April 27, 2023 – Samsung SDI today reported financial results for the first quarter that ended March 31, 2023. The company announced that it posted KRW 5.354 trillion in revenue and KRW 375.4 billion in operating profit in the first quarter of 2023 fiscal year.  □ Overview of First Quarter Earnings ResultsIt is the highest first-quarter results from Samsung SDI, with its quarterly revenue staying above KRW 5 trillion for three quarters in a row. The company’s Energy Business posted significant growths in both revenue and operating profit compared to the same quarter last year, thanks to the booming electric vehicle battery sales. The Energy Business’ revenue was up 44.6% with its operating profit surging 91.7% as the business’ growth momentum continued.  From the same period last year, the revenue and operating profit increased by KRW 1.305 trillion (32.2%) and KRW 53.1 billion (16.5%), respectively. However, compared to a quarter earlier, both revenue and operating profit declined by 10.2% and 23.5%.  □ First Quarter Earnings Results by BusinessThe Energy Business generated a revenue of KRW 4.797 trillion and operating profit of 316.3 billion, up 44.6% and 91.7%, respectively, from the corresponding period last year. Both figures went down 10.2% and 11.9% each from the previous quarter.  The Automotive & ESS Battery Business maintained its upward momentum from the previous quarter, seeing an improvement in profitability, propelled by major customers’ new vehicle model releases equipped with P5 batteries. The sales of ESS batteries was affected by the Q1 seasonality, but managed to obtain a significant growth year over year owing to an increase in the sales of utility solutions.  The Small Battery Business exited the first quarter with a lower revenue than the past quarter as it was a low season for key applications. For cylindrical batteries, in spite of weak demand for power tools, the company’s efforts in mitigating the impact through strategic collaborations with customers proved effective. The pouch battery sales was up owing to the release of a new flagship smartphone model by a major customer.  The Electronic Materials Business posted KRW 557 billion in revenue, which was down 23.7% year on year and 10.8% quarter on quarter. Its operating profit stood at 59.1 billion KRW, decreasing by 62.4% year over year and 55.1% quarter over quarter. Due to low demand for IT gadgets and seasonality, OLED and semiconductor process materials saw drops in both sales and profits. But the polarizer film sales managed to stay at a similar level to that of the past quarter, as a result of efforts to diversify its customer portfolio. □ Business Outlook for the Second QuarterSamsung SDI forecasts its growth momentum to continue going into the second quarter with its profitability improving, driven by the growth of the Automotive and ESS Business. As for automotive batteries, the new product launch effect is expected to lead P5 sales in the coming quarter. The company pins high hopes on the recently announced joint venture project with General Motors, along with the ongoing partnership with Stellantis, to accelerate its penetration into the US market. With the planned commencement of production lines for 46-phi and solid-state batteries, Samsung SDI is looking to take the lead in the next-generation battery market. With ESS batteries, the expansion of utility and UPS projects is anticipated to drive growth in sales.  The Small Battery Business expects increases in both revenue and profitability in accordance with gradual recovery of demand. The business unit plans on raising the sales of cylindrical batteries by utilizing existing partnerships with strategic customers and expanding the sales for Outdoor Power Equipment applications. The sales of pouch batteries is expected to continue to expand in line with launches of new smartphone models scheduled in the second half. As for the Electronics Materials Business, the polarizer film sales is forecast to gradually recover in the second quarter. However, OLED and semiconductor processing materials are likely to see the weak demand for IT products continue. □ ESG Management ActivitiesSamsung SDI’s push for ESG management continues to accelerate after joining the RE100 initiative last year.  In the first quarter, the company joined Global Battery Alliance (GBA) for a sustainable battery value chain and became a member of Carbon Disclosure Project Supply Chain program for better ESG engagement with its supply partners at home and abroad.  In an effort to put ESG into practice actively and preemptively, Samsung SDI is assessing and calculating the scope 3 emissions that encompass indirect emissions from the entire value chain. In the second quarter, the company will disclose the assessment results through the Sustainability Report, and establish goals and tasks to further cut carbon emissions.  “Despite the volatility sweeping across the global business environment, we have managed to achieve the highest-ever revenue in the first quarter, exceeding the KRW 5 trillion mark for three consecutive quarters,” said President and CEO YOONHO CHOI. “Samsung SDI will continue to seek new orders and investments and secure next-generation battery technologies including the solid-state battery, in order to materialize our vision of becoming a market-leading, Global Top Tier company.”

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ESS All-purpose Energy storage technology

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1Q 2023 Earnings Release

Samsung SDI is running a conference call to release the 1Q 2023 financial results.
You can download Earnings Release and listen to the conference call with the link below.

-Date/Time: 2023 April 27th (Thursday), 10am(KST)

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