PI Advanced Materials reports higher net income

PI Advanced Materials, a maker of polyimide films for electronics and industry, said its net income rose 49.2 percent from a year earlier to 17.5 billion won ($12.2 million), helped by higher selling prices.

For the April-June 2026 period, revenue grew 6.9 percent from a year earlier to 77.5 billion won ($54.2 million), while operating profit rose 42.1 percent to 23 billion won ($16.1 million). Profit from continuing operations before income tax increased 53.2 percent to 22.9 billion won ($16 million).

PI Advanced Materials attributed the improvement in profitability to higher average selling prices resulting from expanded sales of high-value products. It also cited the lag between movements in raw-material prices and their effect on costs.

"Volatility in memory supply chains and prolonged geopolitical risks in the Middle East remain key variables," a PI Advanced Materials official said.

The company said sales of PI films for flexible printed circuit board applications rose 16.2 percent from a year earlier to 34.3 billion won ($24 million), supported by stronger demand for ultra-thin films and other high-value products. Thermal-sheet sales, by contrast, fell from a year earlier to 21.3 billion won ($14.9 million) amid intensified market competition and weak demand.

It said cash generation from improved performance was used to repay borrowings. Its debt ratio fell from 50 percent a year earlier to 29 percent, while its current ratio rose from 238 percent to 271 percent.