Below is a few weeks old news but worth to have look. It is a Korean news and translated using google.
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POSCO Chemical to improve its mid- to long-term earnings by increasing demand for battery material
2019-06-17
POSCO Chemical is expected to improve its mid- to long-term earnings on the back of increased demand for battery materials. "POSCO Chemical will continue to increase its battery material order volume on the back of its solid partnership with domestic battery makers," said Lee Won-ju, a Daewoo Securities Researcher. "By expanding production capacity of rechargeable battery materials, Operating Profit Compound Annual Growth Rate (OP CAGR) will increase by 19%." POSCO Chemical produces anode materials and cathode materials, which are battery materials for electric vehicles. The sales volume of electric cars is expected to increase about 30% annually by 2025, which will increase battery demand. Domestic battery makers are increasing their production facilities in response to this trend, and POSCO Chemical's order intake is expected to increase rapidly. POSCO Chemical is expanding production facilities for anode materials and cathode materials to meet increasing orders. The anode material has a production capacity of 75,000 tons by 2021 and the cathode material has a production capacity of 57,000 tons by 2022. POSCO Chemical is expected to be able to respond to an increase in order volume by supplying lithium, an anode material, from POSCO, its parent company. By 2021, it is expected to secure 65,000 tons of lithium per year. In addition, POSCO Chemical has stable financial capacity to support capacity expansion. POSCO Chemical is expected to invest about KRW 600 billion (US$ 509M) in production facilities by 2022. The researcher said, "It is expected that there will be about 450 ~ 500 billion won in borrowing for two years due to CAPEX," but the debt ratio will remain below 100% "He said. POSCO Chemical is expected to generate sales of KRW 1.859 trillion (US$ 1.4B) and operating profit of KRW 117 billion in 2019 consolidated basis. 14.8% more than 2018 and 10.5% increase in operating profit. [Business Post]
LINK>>
http://m.businesspost.co.kr/BP?command=mobile_view&num=131696
Good News & Bad News, page-107
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