Solus sees 95% drop in Q1 profit
But sales increased 25%
Solus Advanced Materials said on Thursday that it is expecting sales of 88.8 billion won and operating income of 400 million won for the first quarter.
This is a rise of 25.3% in sales, but a 95.5% dip in operating income.
Its elecfoil business contributed 58.2 billion won in sales, its highest ever.
High demand for high-end copper foils from 5G and semiconductor applications led this growth.
Solus’s advanced materials business saw high growth thanks to its supply of aETL to Samsung Display’s OLED panels.
The company said the drop in operating income was caused by the initial cost of operating its elecfoil factory Hungary, which began operations in November last year.
Solus expects growth across the board in the second quarter for the stabilization of elecfoil production and growth in 5G-based equipment market.
The company is aiming for a gross production capacity of 105,000 metric tonnes of foils __ 90,000 of elecfoils and 15,000 of copper foils, by 2025, it said.