VITZROCELL (082920) Q1 2025 earnings summary

Executive summary

• Achieved consolidated revenue of KRW 53.9 billion, operating income of KRW 15.1 billion, and net income of KRW 13.0 billion for Q1 2025, showing strong profitability and cash flow generation.

• Maintains a leading position in the global lithium primary battery market, with a focus on Li/SOCl2 and Li/MnO2 products, and continues to expand R&D and patent portfolio.

• No significant changes in risk management, major contracts, or contingent liabilities during the quarter.

Financial highlights

• Q1 2025 revenue: KRW 53.9 billion, up from KRW 37.6 billion in Q1 2024.

• Operating income: KRW 15.1 billion, up from KRW 10.1 billion year-over-year.

• Net income: KRW 13.0 billion, up from KRW 12.0 billion year-over-year.

• Basic EPS: KRW 578 (Q1 2025), up from KRW 540 (Q1 2024).

• Cash and cash equivalents at period end: KRW 31.7 billion.

Outlook and guidance

• Lithium primary battery market expected to grow at a CAGR of 5.56% through 2028, with Li/SOCl2 and Li/MnO2 comprising over 85% of the market.

• Company targets global No.1 position in lithium primary batteries by 2024 and aims for further market leadership by 2026.

• Dividend policy set at a minimum 20% payout ratio of separate net income for 2024–2026.