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Sebang Global Battery Q4 profit falls YOY

Sebang Global Battery Co. Ltd. said its fourth-quarter normalized net income amounted to 1,248.11 South Korean won per share, a decrease of 8.2% from 1,359.82 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 17.16 billion won, a decrease of 9.3% from 18.92 billion won in the prior-year period.

The normalized profit margin fell to 6.3% from 6.9% in the year-earlier period.

Total revenue fell 5.0% year over year to 258.94 billion won from 272.65 billion won, and total operating expenses decreased on an annual basis to 234.05 billion won from 243.40 billion won.

Reported net income fell 12.4% year over year to 20.36 billion won, or 1,480.69 won per share, from 23.24 billion won, or 1,670.13 won per share.

For the year, the company's normalized net income totaled 4,613.60 won per share, an increase of 17.0% from 3,943.69 won per share in the prior year.

Normalized net income was 63.70 billion won, an increase of 15.9% from 54.97 billion won in the prior year.

Full-year total revenue amounted to 956.26 billion won, compared with 955.58 billion won in the prior year, and total operating expenses declined year over year to 860.93 billion won from 874.56 billion won.

The company said reported net income rose 28.3% year over year to 78.79 billion won, or 5,706.38 won per share, in the full year, from 61.41 billion won, or 4,406.00 won per share.

As of March 9, US$1 was equivalent to 1,207.88 South Korean won.