Samsung SDI reports 464.5 billion won first quarter net
Published: 27 Apr. 2023, 09:57
![Samsung SDI CEO Choi Yoon-ho speaks during the company's annual general meeting on March 15 in southern Seoul. [SAMSUNG SDI]](https://koreajoongangdaily.joins.com/data/photo/2023/04/27/d8d46473-a6ba-45f6-929f-3482fe79f808.jpg)
Samsung SDI CEO Choi Yoon-ho speaks during the company's annual general meeting on March 15 in southern Seoul. [SAMSUNG SDI]
Samsung SDI reported a consensus-breaking net profit of 464.5 billion won ($347 million) in the first quarter in part due to solid demand for mid-to-large batteries for electric vehicles.
On year, the net is up by 28.1 percent, beating the market expectation of 409.4 billion won compiled by FnGuide.
Operating profit rose 16.5 percent to 375.4 billion won, falling short of analyst expectations of 383.1 billion won.
Sales jumped 32.2 percent to 5.35 trillion won.
"The operating profit and sales figures are a record high performance for any first quarter result," Samsung SDI said in a release. "Sales of mid-to-large batteries constantly increased."
BY SARAH CHEA [chea.sarah@joongang.co.kr]
with the Korea JoongAng Daily
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