South Korean battery materials maker EcoPro, the holding company of EcoPro Group, swung to profit in the first quarter as electric vehicle cathode material sales surged 76% amid recovering demand in Europe.
The company reported consolidated sales of 806.8 billion won ($599 million) in Q1 2025, up 24.3% from the previous quarter, with an operating profit of 1.4 billion won, according to an April 30 statement.
EcoPro BM, the group’s cathode materials manufacturing subsidiary, delivered a 35% quarterly sales increase to 629.8 billion won with a 2.3 billion won operating profit. The unit’s sales of cathode materials for electric vehicles reached 503 billion won, showing strong performance in both NCA and NCM product lines.
The profit recovery comes as EcoPro advances its vertical integration strategy through investments in Indonesian nickel smelters. Its investment in Green Eco Nickel, a facility expected to produce 20,000 tons of nickel annually, is projected to contribute 100 billion won in operating profit when fully operational.
Despite these positive results, EcoPro Materials, which produces precursors, widened its operating loss to 14.8 billion won due to one-time development costs, though profitability is expected to improve in the second half.
EcoPro’s strategic positioning in high-nickel cathode materials production aligns with growing demand from battery manufacturers, supported by its $34 billion long-term supply agreement with Samsung SDI announced late last year.
