Ecopro posts second-quarter net profit as sales decline

Ecopro's second-quarter net profit was 49.2 billion won ($34.4 million), compared with a 38 billion won ($26.5 million) loss a year earlier despite lower sales.

Revenue fell 11.9 percent to 821 billion won ($574 million) from 932 billion won ($652 million) a year earlier, while operating profit rose 102.7 percent to 32.9 billion won ($23 million) from 16.2 billion won ($11.3 million).

Profit from continuing operations before income tax swung to 84.4 billion won ($59 million) from a loss of 56 billion won ($39.1 million) a year earlier.

"Although a temporary slowdown in the electric-vehicle market and external uncertainty persist, we have been able to maintain profitability by expanding new demand sources, such as AI data centers, and improving our business structure with a focus on profitability," Kim Jang-woo, management representative at Ecopro BM, said.

For the second half, Ecopro plans to restore operating rates at an Indonesian nickel smelter and improve results in its environmental business. It also targets continued healthy profitability in lithium operations.

Ecopro BM recorded 577 billion won ($403 million) in second-quarter revenue and 18 billion won ($12.6 million) in operating profit. It plans to use its Hungary plant to meet demand from European OEMs and for cathode materials tied to AI data centers.