Samsung SDI stated that it has already secured orders amounting to 90% of its production capacity in the energy storage system (ESS) business. It also announced plans for additional capacity expansion and securing local production bases in North America.
During a conference call held on the day for its fourth-quarter performance announcement for last year, Samsung SDI noted, "Our company's ESS has already secured orders equivalent to 90% of our production capacity (CAPA) based on high stability and differentiated performance. Demand for ESS in the Americas is expected to continue growing due to expansion in the artificial intelligence (AI) industry and renewable energy."
It also mentioned, "We are pursuing an expansion of more than 20% in production capacity compared to the end of last year through efforts to enhance production line efficiency and converting electric vehicle lines for ESS use," adding, "We are considering local production bases to respond to medium- to long-term demand and will share details when they are finalized."
Samsung SDI announced on the 24th that its fourth-quarter performance last year recorded sales of 3.7545 trillion won and an operating loss of 256.7 billion won. Compared to the fourth quarter of last year, sales decreased by 28.8%, resulting in a turnaround to a deficit. This marks the first quarterly loss for Samsung SDI in about eight years since the first quarter of 2017, which saw a loss of 67.3 billion won.
The overall performance for last year was tallied at sales of 16.5922 trillion won and operating profit of 363.3 billion won. Compared to its performance in 2023, sales decreased by 22.6% and operating profit decreased by 76.5%.