“ESS sales up 173% quarter-on-quarter”... ECOPRO BM posts third-quarter operating profit of 12 billion won

[Financial News] ECOPRO BM’s sales of cathode materials for ESS rose 173% from the previous quarter to 123.6 billion won, while operating profit came to 12 billion won, keeping the company in the black. EV sales fell to 256.1 billion won, while sales for ESS and power applications increased, resulting in a 3.3% decline in total revenue from the previous quarter. ECOPRO BM plans to continue vertical integration with a plant in Hungary to meet demand from European customers and a smelter in Indonesia to secure nickel feedstock.
ECOPRO BM said on the 5th that it recorded consolidated revenue of 557.9 billion won and operating profit of 12 billion won in the third quarter of this year. Revenue fell 3.3% from 576.7 billion won in the previous quarter. The company said it had posted operating profit for seven consecutive quarters since the first quarter of last year.
Sales for electric vehicles (EVs) fell to 256.1 billion won from the previous quarter. This was due to slower growth in the North American EV market and European automakers beginning to adjust their inventories.
By contrast, sales of cathode materials for ESS came to 123.6 billion won, while sales for power applications rose 16% from the previous quarter to 169.7 billion won. ECOPRO BM said the figures were affected by increased investment in AI data centers worldwide and expanded construction of semiconductor production facilities and data centers.
For the fourth quarter, it forecast that results in areas outside EVs, including ESS, would remain solid, driven by the expansion of AI infrastructure and growth in the renewable energy market.
ECOPRO BM is operating two production lines at its plant in Debrecen, Hungary, to meet demand from European automakers. It plans to develop the site into a local base that can prepare in advance for standards on the use of regionally produced battery materials in Europe, which will be tightened from 2027 onward.
The Indonesian nickel smelter BNSI has completed its equity investment and is preparing for commercial operations in the first half of 2027. The strategy is to strengthen both cost competitiveness and supply stability through vertical integration, from securing nickel feedstock to producing cathode materials.
ECOPRO BM CEO Song Ho-jun said, “Even as North American EV demand slowed, we responded quickly to demand for ESS and power applications driven by the spread of AI infrastructure and maintained our profitability.”
He added, “We will further strengthen our position as a leading global supplier of key cathode materials by successfully bringing local mass production in Hungary and investment in the Indonesian smelter to completion.”

[email protected] Kim Dong-chan Reporter