Chabi announced that its consolidated revenue for the first quarter reached 20.7 billion won, marking a 21% increase compared to the same period last year.
The charging service segment recorded sales of 13.9 billion won, a 13% year-on-year growth, demonstrating stable growth. The charger manufacturing segment also saw a 41% increase in revenue, totaling 6.8 billion won compared to the previous year.
Due to the seasonal nature of export volumes, which are concentrated in the fourth quarter, the company reported an operating loss of 9.7 billion won for the first quarter. However, the key performance indicator, EBITDA, improved by 17 percentage points year-on-year, reaching -2%, indicating that the company is nearing profitability, according to Chabi officials.
A Chabi representative stated, "The increase in electric vehicle registrations and the rising utilization rate of chargers are driving revenue growth and improving profitability in the charging service sector."
Chabi anticipates that demand for charging infrastructure will continue to grow alongside the expansion of the electric vehicle market.
The charging service business is structured to expand revenue as the cumulative number of registered electric vehicles and charger utilization rates increase. Recent trends show a sharp rise in electric vehicle sales, which is expected to accelerate both the foundation for long-term growth and the pace of performance improvement.
According to the Ministry of Trade, Industry and Energy's report on the automotive industry trends for March and the first quarter of 2026, domestic electric vehicle sales in the first quarter increased by 155.8% compared to the same period last year, with approximately one in four vehicles sold by April this year being electric. This trend suggests a rapid expansion in demand for fast charging services and charger utilization.
Choi Young-hoon, CEO of Chabi, remarked, "The charging service sector is improving profitability to a level capable of generating its own cash flow, and the foundation for long-term growth is being further strengthened with the expansion of electric vehicle adoption. The manufacturing sector will also continue to improve annual performance, focusing on global export growth."
Meanwhile, Chabi is pursuing various initiatives to expand charging infrastructure nationwide and lead the mobility ecosystem in the era of one million electric vehicles.
Starting at the end of May, third-generation chargers equipped with NACS connectors will be fully operational at major living hubs and highway rest areas in Seoul and the metropolitan area, allowing Tesla users to conveniently access Chabi chargers.
Recently, Chabi partnered with Hyundai to launch a dedicated electric vehicle charging subscription service for Hyundai customers, enhancing accessibility to charging infrastructure while reducing usage costs.
* This article has been translated by AI.
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