Samsung SDI gradually improves sales and is confident in near-term growth.
Samsung SDI, one of the world's leading battery manufacturers, notes a noticeable growth in "large-sized" lithium-ion cells for xEVs electric vehicles (BEVs, PHEVs, HEVs) during the third quarter of 2019.
The overall Q3 financial results show just small improvements year-over-year - by 1.5% in the case of batteries, but that's only because the "small-sized" category suffers weak demand.
Samsung SDI Q3 2019 results:
- Revenue: ≈$2.2 billion (up 1.8% year-over-year)
- Revenue (Li-ion Battery): ≈$1.67 billion (up 1.5% year-over-year)
- Net Profit: ≈$190 million (up 1.5% year-over-year)
Batteries for electric vehicles (bigger, higher-capacity cells) and for energy storage systems are selling better than ever and should further improve also in Q4, driving up also profitability.
Here is a more detailed look at the Q3 results:
If nothing change in trends, soon the "large-sized" cell should become a bigger part of the business than "small-sized":
Source: Samsung SDI