SK On's third-quarter profit improved thanks to improved battery yield at new factory

SK Innovation's battery business subsidiary SK On, in the third quarter of this year's revenue, increased significantly, before interest, tax, depreciation, and amortization, for the first time, made a profit for the first time.

SK On's profit improvement in the third quarter was due to the improvement in the battery yield rate of their new factory.

According to the financial report released by SK Innovation, its battery business, SK On, recorded a revenue of 2.19 trillion won in the third quarter, a year-on-year increase of 168.6% and a month-on-month increase of 70.3%; an operating loss of 134.6 billion won, compared with 3266 in the same period last year. billion; EBITDA was KRW 9.4 billion.

Judging from the financial report released by SK Innovation, SK On, a subsidiary of the battery business, saw a significant increase in revenue and improved profit in the third quarter, not only due to the increase in the yield rate of the new factory, but also a 140.9% year-on-year increase in price, which also pushed up the An important factor in the performance, sales increased 63% year over year in the quarter.

The increase in the yield rate of the new factories mentioned in the foreign media reports refers to SK On's first factory in the United States and its second factory in Hungary. Although there were challenges in the yield rate of the initial plan, after the start of mass production, the production has been successfully increased.

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