Samsung SDI, 2Q21 Earnings Release
Post. 2021.07.27
Samsung SDI, 2Q21 Earnings Release
Recorded revenue of 3 trillion 334.3 billion won,
operating profit of 295.2 billion won
□ [2Q21] Strong growth in revenue and operating profit, the highest revenue of all time
Revenue increased by 30.3%, operating profit increased by 184.4% YoY
Battery business profitability increased significantly, EV battery saw a surplus
□ [2H21] All divisions including battery and electronic materials are expected to see growth
2Q21 Business Highlights
Samsung SDI announced the second-quarter revenue of 3 trillion 334.3 billion won, and operating profit of 295.2 billion won. This is the highest quarterly revenue of all time.
Revenue increased by 775.7 billion won(30.3%) and operating profit increased by 191.4 billion won(184.4%) YoY. And revenue increased by 371.1 billion won(+12.5%) and operating profit increased by 162 billion won(+121.6%) QoQ.
Samsung SDI 2Q21 Earnings (Unit: KRW bn)
2Q 2021 Results
The energy business recorded 2 trillion 711.8 billion won, up 41.2% and 13.6% YoY and QoQ respectively.
Automotive & ESS battery revenue grew significantly compared to the last quarter. It improved profitability and turned a profit with increased sales to major European clients. ESS saw an increased revenue from the U.S. utility project.
For small battery, cylindrical battery revenue went up as it starts its supply to the new EV project, and pouch battery revenue also went up thanks to flagship smartphones.
The electronic materials business revenue stood at 622.5 billion won, down 2.4% YoY, but up 8.0% QoQ.
Semiconductor materials showed a solid revenue growth QoQ, OLED materials revenue went up with the high demand for smartphones, and polarizer revenue also went up with the high demand for large LCD TVs.
2H 2021 Market Outlook
It is expected that all businesses of Samsung SDI will achieve a growth in the second half of 2021.
Automotive & ESS battery will see increased sales and profitability. EV battery will improve profitability as the supply to the new model begins and sales go up, and ESS battery will also see increased sales in Europe and Asia.
Small battery will also grow in the second half. Cylindrical battery will see larger volume in EV sales, and the sales for major applications such as power tools, vacuum cleaners and E-bikes will continue growth. Pouch battery will also go up with the launch of new smartphone.
The electronic materials business will see a growth in sales mainly from semiconductor and OLED materials.
Semiconductor materials will see an increase in sales as the customer ramps up production and wafer input goes up, and OLED materials will also see an increase as more OLED panels are used at new smartphones.
