SK On's revenue in the third quarter is 2.2 trillion won, which is significantly lower than that of LG New Energy and Samsung SDI.

November 3 news, According to foreign media reports, SK Group's SK innovation, In local time Thursday said, They in the third quarter revenue 22.75 trillion won, Year-on-year growth of 82.5%, But affected by energy price fluctuations, Their net profit this quarter is only 175.2 billion won, Year-on-year decline of 65.5%.

Foreign media reports also showed that SK On, a battery manufacturer owned by SK Innovation, had revenue of 2.19 trillion won in the third quarter, up 906.2 billion won from 1.28 trillion won in the previous quarter and up 71% month-on-month.

Although SK On's revenue growth in the third quarter is significant, there is still a significant gap compared with LG New Energy and Samsung SDI, the other two major battery manufacturers in South Korea.

LG New Energy's earnings report released last week showed that their revenue in the third quarter was close to 7.65 trillion won, up 89.9% year-on-year and 50.8% month-on-month.

On the same day LG New Energy released its earnings report, Samsung SDI also released its third-quarter earnings report, with revenue of 5.37 trillion won and operating profit of 565.9 billion won, both hitting new highs.

Although SK On, which was spun off from SK Innovation Battery Business in October last year, is currently significantly behind LG New Energy and Samsung SDI in terms of revenue, with the increase in demand for electric vehicle batteries and the increase in SK On investment, the gap between them and the other two companies in revenue is expected to narrow in the future.