Solus Advanced Materials said on Wednesday it posted 2025 consolidated revenue of 616.4 billion won and an operating loss of 71.5 billion won. Revenue rose 8 percent from 570.9 billion won a year earlier, but the operating loss widened 31.3 percent from 54.4 billion won.

Profitability also deteriorated as battery customers delayed ramp-ups due to weaker demand for electric vehicles. Costs increased as plant utilisation fell and fixed costs such as labour rose, adding to cost burdens. Losses also grew as costs from funding facility investment and a rise in the exchange rate overlapped.

The copper foil division posted revenue of 306.5 billion won. Supplies of high-end products, including Hyper Very Low Profile (HVLP) copper foil for AI accelerators, rose sharply as the global artificial intelligence market expanded.

Battery foil division revenue fell to 183.7 billion won from 248.3 billion won a year earlier, down 26 percent. That was due to reduced supply volumes to major customers in North America and Europe as Chinese companies increased market share and North American EV subsidies were halted.

The OLED division posted revenue of 126.2 billion won, holding to a similar level to a year earlier. Sales of products with intellectual property for IT devices and new materials for mobile offset delays in entering Chinese customers.

The company plans to complete the sale of the copper foil division in the first half and focus its capabilities on the battery foil business over the medium to long term. Its 2026 revenue target for all divisions is 533.0 billion won, with 394.0 billion won from battery foil and 139.0 billion won from OLED.

Chief Executive Keunman Kwak (곽근만) said, "This year will be a year that leads to tangible results as demand recovers from existing customers and supply to new customers begins in earnest." He added, "We will simultaneously push to improve performance in the battery foil business through diversification of demand beyond EVs to ESS and humanoid robots, and to grow revenue based on a new production base for OLED, while laying the foundation for a turnaround through management efficiency."