SKC Posts 15th Straight Quarterly Loss, Narrows Deficit in Q3

What happened

On Oct. 28, SKC reported consolidated third-quarter revenue of 638.9 billion won and an operating loss of 49.6 billion won, narrowing by 5.3 billion won from 54.9 billion won in the same period last year, with revenue up about 26% year over year; it remained in the red for the 15th consecutive quarter (since Q1 2023). The source attributes the losses to a prolonged downturn in the battery market caused by slowing growth in electric vehicle demand. The copper foil business led by subsidiary SK Nexilis was particularly weak, posting third-quarter revenue of 248.2 billion won and an operating loss of 53.3 billion won; SK Nexilis aims to return to profitability in the fourth quarter by expanding supply, primarily from its Malaysian plant. The semiconductor materials business posted revenue of 71.8 billion won and operating profit of 21.8 billion won, supported by sales related to AI data centers, automotive applications, robotics and non-memory semiconductors; the chemicals business recorded its third consecutive quarterly profit with revenue of 317.3 billion won and operating profit of 13.4 billion won. SKC raised 1 trillion won in cash through a rights offering in the first half of this year, allocating 410 billion won to debt repayment, cutting its debt-to-equity ratio to 122% from 233% at the end of last year; the remaining 590 billion won will be invested in glass substrates, a next-generation growth business led by subsidiary Absolics. For non-embedded products under development for mobile communications applications, the company is discussing PoC testing with customers and pursuing new projects with multiple customers; for embedded products it is focusing on reliability testing and improving production yields.

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Source and time

Source: The Elec · 10/28/2026 · View original source