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L&F Swings to Profit in Q2 on Record-High Shipments
Electronic Technology · Electronic Components · yonhap_finance · 2026-08-06
066970
L&F reported a Q2 operating profit of 20.8 billion KRW, driven by strong high-nickel cathode sales and successful expansion into the North American market.
What Happened
Financial Turnaround: L&F achieved a significant turnaround in the second quarter, reporting an operating profit of 20.8 billion KRW compared to a loss in the same period last year. Revenue surged by 70.2% year-on-year to 885 billion KRW, with net income also returning to positive territory.
Growth Drivers: The company's record-breaking quarterly shipments were fueled by robust sales of high-nickel cathode materials. Notably, the expansion of 46-series battery product sales to new North American clients exceeded initial annual projections, serving as a key pillar for growth.
Strategic Expansion: L&F has completed the shipment of prototype LFP batteries for energy storage systems (ESS) and plans to begin full-scale supply by the end of the third quarter. The company expects LFP shipments to surpass initial targets this year, with volumes projected to exceed 50,000 tons in 2025.
Future Outlook: CFO Ryu Seung-heon stated that the company will accelerate its two-track growth strategy, balancing NCM and LFP battery production. With new single-crystal high-nickel projects and ESS-related LFP supplies ramping up, L&F anticipates continued momentum throughout the second half of the year.