SK ie technology in the black with $24 million operating profit

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SK ie technology in the black with $24 million operating profit

Published: 02 Feb. 2024, 11:03

SEO JI-EUN
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[SK IE TECHNOLOGY]

SK ie technology, a battery separator maker in Korea, turned to black in 2023 with an operating profit of 32 billion won ($24.1 million), thanks to the robust performance of its lithium-ion battery separator business.

It's a marked difference from the previous year's 52.3 billion won loss.

Net profits for the year surged to 80.4 billion won from a loss of 29.7 billion won one year earlier.

Annual sales saw a 10.9 percent increase, reaching 649.6 billion won.

In the fourth quarter, the company's operating profit was 26.9 billion won, a turnaround from the 10.3 billion won loss a year ago.

Net income for the October-December period soared by 653.1 percent to 71.8 billion won.

However, fourth-quarter revenue dipped by 2.8 percent to 172.5 billion won.

BY SEO JI-EUN, YONHAP [[email protected]]