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(Photo=L&F) |
[Alpha Biz= Reporter Paul Lee] On the 9th, L&F announced through a public disclosure that its consolidated basis operating loss for the first quarter of this year amounted to 2,038 billion won, marking a transition to deficit compared to an operating profit of 404 billion won in the same period last year.
During the same period, sales totaled 6,357 billion won, representing a 53.4% decrease compared to the previous year. The net loss for the period amounted to 1,116 billion won.
In comparison to the previous quarter's operating loss of 2,804 billion won in the fourth quarter of last year, the deficit narrowed. Sales decreased by 3.3% compared to the previous quarter. The company explained that if there is no further decline in raw material prices, the evaluation loss on inventory assets would be finalized in the first quarter, and there would be no additional recognition of one-time costs.
L&F adjusted its shipment target compared to the early-year plan from -3% to -5% to +3% to +5%. The shipment volume of its main product, the cathode material 'NCMA90,' increased, and 'NCM523' also showed a recovery trend. As a result, it is forecasted that the shipment volume will increase by 20% to 30% in the second quarter of this year compared to the previous quarter, driven by increased demand for cylindrical batteries and mid-nickel products.
Alphabiz Reporter Kim SangJin(hoondork1977@alphabiz.co.kr)
