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CFL, a European subsidiary of Solus Advanced Materials (photo=Solus Advanced Materials) |
[Alpha Biz= Reporter Paul Lee] Solus Advanced Materials made a tentative announcement on the 24th that it posted consolidated sales of 121.3 billion won in the first quarter of this year, up 7.5 percent from a year earlier.
The operating loss was 14 billion won, up 5 billion won from the same period last year. Although the deficit was reduced due to stable yield of battery foil, it continued to suffer losses due to fixed costs caused by construction and operation of overseas plants.
Sales of battery and copper foil businesses rose 5.4% year-on-year to 90 billion won. Battery foil recorded 46.3 billion won, up 15.2% from 40.2 billion won a year earlier. The stabilization of production at the Hungarian plant has increased the supply of major customers. In particular, monthly shipments of battery foil at Hungarian plants exceeded 1000t for the first time this month.
Sales in the electronics business sector rose 14.2 percent to 31.3 billion won from 27.4 billion won a year earlier. The recovery in demand for mobile and IT devices improved the display front-end industry economy and increased supply, contributing to the increase in sales.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
