Posco Future M Energy Materials Revenue Slips

The Tip Desk · August 14, 2026 · 2 min read

The battery materials provider reported energy materials revenue of 761,513 million won for the first half of 2026.

Posco Future M, a battery materials company that produces both anode and cathode materials in South Korea, saw its energy materials segment revenue fall to 761,513 million won in the first half of 2026. This represents 53.0% of the company's total revenue for the period. The segment previously generated 1,574,083 million won in the first half of 2025 and 2,339,854 million won in 2024.

Despite the revenue decline, the energy materials division returned to profitability with an operating profit of 1,461 million won. This follows operating losses of 36,898 million won in the first half of 2025 and 36,879 million won in 2024. The company attributes energy materials price fluctuations to the supply and demand of international mineral resources.

Other business units showed mixed results. The lime and chemical business recorded 447,870 million won in revenue and an operating profit of 44,176 million won. The refractories business reported revenue of 227,589 million won and an operating loss of 1,249 million won. Consolidated operating profit for the first half of 2026 totaled 44,388 million won.

Concentration remains high among key customers. The energy materials segment relies on Ultium Cells, LG Energy Solution, Samsung SDI, and SK On for 53.0% of its revenue. The lime and chemical segment depends on Posco and OCI for 31.2% of its sales, while the refractories segment relies on Posco and others for 15.8%.

To expand its footprint, the company is increasing production capacity for spherical graphite at the Saemangeum Industrial Complex and building an artificial graphite anode plant in Vietnam. These moves respond to a surge in energy storage system demand driven by AI data center investments.

The company faces risks from volatility in battery policies in major export markets like the United States and a potential slowdown in electric vehicle market growth, which could reduce the required volume of battery materials. The company said it is responding to these conditions by increasing production, strengthening technology, and diversifying its customer base.