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| 에코프로비엠 본사 (사진=에코프로비엠) |
[Alpha Biz=(Chicago) Reporter Kim Jisun] Since the beginning of the year, the credit rating of Ecoprobm, a manufacturer of secondary battery cathode materials that has been leading the KOSDAQ bullish market, has been raised to A grade. It is the first achievement in about two years since it received its first credit rating to issue public bonds in June 2021.
The NICE Credit Rating said on the 27th that it has raised Ecoprobm's long-term credit rating from 'BBB+ (positive)' to 'A- (positive)'. Short-term credit ratings have also been raised from the existing A3+ to A2-. Higher credit ratings make it easier to issue corporate bonds and lower financial costs, including interest, which helps financial soundness.
NICE Investors Service stressed that the company's sales have recently expanded significantly on the back of high growth in the front market. Ecoprobm's annual sales rose from 854.7 billion won in 2020 to 1.4856 trillion won in 2021 and 5.3576 trillion won in 2022. Sales of products for electric vehicles (EV) jumped to 309.8 billion won → 648.6 billion won → 3.1572 trillion won during the same period, driving earnings growth.
The business base was also evaluated as stable. It has secured major secondary battery companies such as Samsung SDI and SK On as customers and is covering most of the raw material purchases within affiliates such as EcoPro Innovation and EcoPromaterials. As it has excellent technology and diversified product portfolio, it also has the ability to respond to customer demand. As of the end of last year, it ranked first in the global market (6.6%) in the anode material market except for lithium phosphate (LFP), and develops and produces both high nickel NCA products and nickel, cobalt and manganese (NCM) products.
Ecoprobm is leading the KOSDAQ rally, which began at the beginning of the year with its holding company Ecopro. Stock prices have nearly tripled this year alone, drawing attention. On the same day, it closed at 269,500 won, up 11.13%.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
