EcoPro BM CEO Choi Moon-ho / Yonhap
EcoPro BM extended its run of profitability in the first quarter, buoyed by a rebound in European electric vehicle (EV) demand and a surge in energy storage needs tied to artificial intelligence (AI) infrastructure.
The battery materials maker said Wednesday it posted revenue of 605.4 billion won ($409 million) and an operating profit of 20.9 billion won for the January-March period. While revenue dipped slightly from a year earlier, operating profit rose sharply from 2.3 billion won, reflecting improved margins.
The company said increased shipments of cathode materials for EVs in Europe helped drive results, alongside rapid growth in demand for energy storage systems (ESS), used to stabilize power supply for data centers.
Sales of cathode materials for ESS applications jumped 140 percent from a year earlier, the company said, as global investment in AI infrastructure accelerated. Demand tied to power applications, including electric tools and e-bikes, also rose 44 percent on-year.
EcoPro BM said it expects momentum to continue as it prepares to begin mass production at its Hungary plant in the second quarter. The facility is intended to supply European automakers with locally produced materials, helping the company respond to tightening regional regulations.
The Hungary plant, located in Debrecen, has an annual capacity of 54,000 tons and was completed in November. The company said the site would strengthen its position as European rules increasingly require locally sourced battery materials.
EcoPro BM said it would continue expanding high-value cathode material supply in line with AI growth and a recovery in the EV market.
This article was published with the assistance of generative AI and edited by The Korea Times.
Source: Korea Times News
