Samsung SDI, one of the most known EV battery suppliers, noted an interesting fourth quarter of 2019, as the overall revenues noticeably improved, while profits shrunk significantly.
The most important part for us is that the xEV (BEVs, PHEVs, HEVs) battery segment shows healthy growth to a record-high revenue and improved profitability in Q4. No GWh (battery capacity deployed) numbers were provided, though.
The future should be even better as IHS' forecast, on which Samsung SDI bases, envisions xEV battery market expansion by 55% in 2020 to 176 GWh.
Samsung SDI Q4 2019 results:
- Revenue: ≈$2.36 billion (up 14% year-over-year)
- Revenue (Li-ion Battery): ≈$1.85 billion (up 18% year-over-year)
- Net Profit: ≈-$27.6 million (down 112% year-over-year)
Samsung SDI 2019 results:
- Revenue: ≈$8.44 billion (up 10.3% year-over-year)
- Revenue (Li-ion Battery): ≈$6.45 billion (up 11% year-over-year)
- Net Profit: ≈$340 million (down 46% year-over-year)
Samsung SDI is also engaged in the battery energy storage:
Source: Samsung SDI