Lotte Energy Materials(020150) said in a filing on the 6th that, on a consolidation basis in the second quarter, its operating loss was 16.9 billion won, a 45.7% reduction in the deficit from a year earlier, based on preliminary figures.
Revenue for the same period was 194.2 billion won, down 5.2%. Net loss was 18.8 billion won, swinging to a loss.
Lotte Energy Materials said sales were generated by rising demand for high-output small batteries such as battery backup units (BBUs) for AI data centers and power tools, as well as solid sales of North American energy storage systems (ESS) and circuit foil.
The company said, "The circuit foil market has shifted rapidly from standard IT-use general circuit foil to high-quality circuit foil optimized for AI data centers," and added, "Demand for non-China circuit foil is surging, led by North American corporations."
For the battery foil business, to meet growing customer demand, it began operating its fifth plant in Malaysia in July.
Chief Executive Kim Yeon-seop said, "We expect growth in the AI data industry based on a differentiated portfolio of products such as circuit foil and battery foil," and added, "We will grow to meet the expectations of investors and customers."