Samsung SDI, LG Energy Solution Shares Climb on ESS Growth Hopes
Samsung SDI gained 3.69% in early trading as NH Investment & Securities forecast Q3 operating profit of 260.3 billion won on ESS demand.
Samsung SDI shares rose 3.69% to 590,000 won in early trading on the 12th, while LG Energy Solution shares gained 2.24%, according to inews24.com. The moves came amid expectations of growth in the energy storage system (ESS) market.
NH Investment & Securities estimated Samsung SDI's third-quarter revenue at 3.958 trillion won and operating profit at 260.3 billion won.
ESS shipments are projected to grow from 12GWh last year to 21GWh this year and 34GWh next year, figures that point to expanding battery demand beyond electric vehicles.
Q3 earnings backdrop
LG Energy Solution earlier reported provisional third-quarter revenue of 9.6434 trillion won and operating profit of 75.6 billion won, up 59.0% and 25.7% year-on-year respectively. Samsung SDI's third-quarter revenue and operating profit were estimated at 3.958 trillion won and 260.3 billion won respectively.
Quick answers
How much did Samsung SDI shares rise?
Samsung SDI shares rose 3.69% to 590,000 won in early trading on the 12th.
What is Samsung SDI's estimated Q3 operating profit?
NH Investment & Securities estimated Samsung SDI's third-quarter operating profit at 260.3 billion won, with revenue of 3.958 trillion won.
How fast is the ESS market expected to grow?
ESS shipments are expected to grow from 12GWh last year to 21GWh this year and 34GWh next year.