POSCO FUTURE M

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  POSCO Future M’s Gwangyang cathode material plant

- Second quarter consolidated sales of 1.193 trillion won and operating profit of 521 billion won.
- Improvement in operating profit driven by an increased sales proportion of premium-grade N86 for high-performance EVs and Korea’s first supply of high-nickel single-particle cathode materials.
- Goal to achieve 1 million tons of cathode material production and 360K tons of anode material production by 2030…a 10-fold and 5-fold increase, respectively, compared to current production levels.


POSCO Future M expanded its battery material product portfolio and achieved record-high sales in the second quarter once again, breaking the record-high sales it attained in the first quarter.

On the 24th, POSCO Future M disclosed its second-quarter financial results with a consolidated sales revenue of 1.193 trillion won and an operating profit of 52.1 billion won.

In the second quarter, the sales and operating profit of the battery material business increased by 8.0% and 124.6% respectively compared to the previous quarter, reaching 842.5 billion won and 37.5 billion won. The cathode material division achieved sales of 786.3 billion won with a growing proportion of sales attributed to N86, a premium-grade cathode material for high-performance EVs. The growth in sales was also attributable to the supply of high-nickel single-particle cathode materials, known for their high energy efficiency and stability, and which have been mass-produced in Korea for the first time since last April by POSCO Future M. Despite the anode materials division seeing a 17.0% decrease in sales, achieving 56.2 billion won, due to reduced demand, profitability improved slightly thanks to increased plant utilization.

The sales of the basic materials business were 350.5 billion won, which was at the same level as the previous quarter. However, both the refractories and lime chemical businesses improved in profitability, leading to a significant increase in operating profit from 3.6 billion won in the previous quarter to 14.6 billion won this quarter.

POSCO Future M's consistent quarterly growth can be attributed to the securing of large-scale cathode material supply contracts worth a total of 83 trillion won with battery manufacturers both home and abroad, including Samsung SDI, LG Energy Solution, and Ultium Cells, just in the first quarter. Since 2022, the company has signed orders worth 106 trillion won in just the battery material sector, and this growth in performance is expected to continue throughout the second half of the year thanks to prospective supply contracts waiting to be signed with major automakers and battery companies.

POSCO Group also held a Second Battery Material Value Day on the 11th, where the Group announced a new vision named "2030 Leap as a Global Leading Company in the Secondary Battery Material Business," with goals in place of investing 46% of the Group's total investment budget in the secondary battery material business for the next three years. This move clearly reaffirms POSCO Future M's commitment to continuous growth. According to this vision, by 2030, POSCO Future M will produce and supply 1 million tons of cathode materials and 360,000 tons of anode materials (with an additional 10,000 tons from POSCO Silicon Solution). Compared to the current production scale, this represents a 10-fold increase in the production of cathode materials, and a 5-fold increase in the case of anode materials.