Business
SKC Could See Copper-Foil Business Turn Around in 2H — Market Talk
SKC Could See Copper-Foil Business Turn Around in 2H — Market Talk
About this update from Skc Co., Ltd.
South Korean industrial-film maker SKC could see its unprofitable copper foil business turn around in 2H, Daiwa Capital's Henny Jung and Yoonki Bae say in a note. Costs related to a lawsuit with its key competitor led to a larger-than-expected operating loss in 1Q despite rising shipments, the analysts say. Its copper-foil business could return to profit in 2H, supported by the ramp-up in factory utilization at its new Malaysia plant, they add. Daiwa points to SKC's 24% on quarter increase in 1Q copper-foil shipments, driven by its largest customer's increased U.S. energy storage system production, and SKC management's expectation for a 40% jump in 2Q shipments.([email protected])