Samsung SDI expects an increase of battery sales, which in today's world is quite positive news.
Samsung SDI announced its Q1 financial results, which reveals a small year-over-year increase in revenues and battery revenues, in particular (both up by 4%).
The battery sales were affected by the seasonality of xEV demand and weak domestic demand for energy storage systems, but overall are positive:
- Revenue: ≈$1.95 billion (up 4% year-over-year)
- Revenue (Li-ion Battery - xEV and non-automotive): ≈$1.46 billion (up 4% year-over-year)
- Net Profit: ≈$570,000 (down 99% year-over-year)
Profits were almost non-existent, but it's way better than net losses in Q4.
Samsung SDI Q1 2020 results
The South Korean company expects that in Q2 xEV sales will increase due to higher demand for PHEVs as well as new energy storage projects in the U.S.
Unfortunately, the volume of xEV battery deployment was not revealed.