SKC disclosed on the 28th that it recorded revenue of 638.9 billion won and an operating loss of 49.6 billion won for the third quarter this year. Revenue increased by 26% compared to the same period last year, while operating profit improved by approximately 10%.
The copper foil business generated revenue of 248.2 billion won, driven by the gradual recovery in electric vehicle (EV) demand and growth in the North American energy storage system (ESS) market. However, one-time costs incurred during the efficiency optimization of domestic production facilities, combined with fixed cost burdens from the operation of its Malaysia plant, resulted in an operating loss of 54.4 billion won.
Copper foil subsidiary SK Nexilis has restructured its production and sales system centered on Malaysia. The company expects that its Malaysian entity will turn to an operating profit in the fourth quarter, thanks to the recovery in sales of copper foil for EVs, expanding North American ESS demand, and the effect of increased selling prices.
The semiconductor materials business recorded revenue of 71.8 billion won and an operating profit of 21.8 billion won. Performance was boosted by a larger share of high-value-added products for artificial intelligence (AI) data centers and the expansion of sales channels into non-memory sectors such as automotive and robotics. Improved profitability in existing memory products also contributed positively.
The chemical business recorded revenue of 317.3 billion won and an operating profit of 13.4 billion won, marking its third consecutive quarter of profitability.
The financial structure has also improved. Following the securing of liquidity through a rights offering (paid-in capital increase) in the first half, SKC completed large-scale capital funding for SK Nexilis. As a result, SKC's debt ratio decreased by 111 percentage points to 122%, down from 233% at the end of last year.
The glass substrate business, being cultivated as a next-generation growth engine, will continue its product commercialization efforts. The Embedding product is focusing on reliability evaluation and securing yield. For the Non-Embedding product, specific negotiations are underway with customers for technology validation (PoC) targeting mobile communication products. Development of new projects with multiple customers is also being pursued.
An SKC official stated, "Improvements in fundamentals by business segment and the outline of a turnaround have become increasingly clear." The official added, "Having completed preparations for a full-scale turnaround, we will create tangible results through strengthening business competitiveness and improving profitability."
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