EcoPro BM continued its profitable trend in the third quarter of this year, driven by increased demand for energy storage systems (ESS) and power applications for artificial intelligence (AI) data centers.
On November 5, EcoPro BM announced that its consolidated revenue for the third quarter reached 557.9 billion won (approximately $10.2 million) with an operating profit of 12 billion won. Although revenue decreased by 3.3% from the previous quarter's 576.7 billion won, the company has maintained a profit for seven consecutive quarters since the first quarter of last year.
Sales related to electric vehicles (EVs) fell to 256.1 billion won due to a slowdown in the North American EV market and inventory adjustments by European automakers.
However, revenue from cathode materials for ESS surged to 123.6 billion won, marking a 173% increase from the previous quarter, driven by global investments in AI data centers. Additionally, sales for power applications rose by 16% to 169.7 billion won, supported by the expansion of semiconductor production facilities and data center construction.
Looking ahead, EcoPro BM anticipates continued strong performance in the fourth quarter, bolstered by the expansion of AI infrastructure and growth in the renewable energy market.
The company currently operates two lines at its plant in Debrecen, Hungary, to meet the demands of global automakers in Europe. It is also finalizing its investment in the BNSI nickel refinery in Indonesia, preparing for commercial operations in the first half of 2027. This strategy aims to vertically integrate the value chain from nickel sourcing to cathode production, enhancing cost competitiveness and supply stability.
CEO Song Ho-jun stated, "Despite the slowdown in EV demand in the North American market, we have swiftly responded to the growing demand for ESS and power applications driven by the expansion of AI infrastructure, maintaining our profitability. We will solidify our position as a key global supplier of cathode materials by successfully completing local production in Hungary and our investment in the Indonesian refinery."
* This article has been translated by AI.
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