DAEGU, South Korea--(뉴스와이어)--L&F announced on the 5th that it recorded revenue of KRW 874.4 billion in 3Q 2026, maintaining stable revenue performance despite the decline in KRW/USD exchange rate, supported by steady sales of Ultra High-Nickel products.

In particular, backed by continued exclusive supply of Ultra High-Nickel products and increased sales of 46-series products to North American customers, L&F expects to achieve record quarterly shipments of high-nickel products in 4Q 2026. Accordingly, annual NCM shipments in 2026 are expected to increase by approximately 40% YoY, reaching an all-time high. Despite the slowdown in global EV market growth, L&F continues to deliver strong volume growth of over 30% for the second consecutive year, underscoring L&F strong competitive position in the global market.

Supported by shipment growth and recovering capacity utilization, cumulative operating profit for the first nine months of 2026 reached approximately KRW 111.6 billion, strengthening expectations for full year profitability. However, L&F recorded an operating loss of KRW 26.5 billion in 3Q due to external factors, including a sharp decline in the KRW/USD exchange rate and prices of raw materials. L&F noted that, excluding these external factors, the NCM business continues to maintain solid profitability.

In 2027, growth in the NCM business is expected to accelerate further, driven by the rapid expansion of its product portfolio centered on next-generation 46-series products. With increased deliveries to existing and newly launched 46-series projects, 46-series are expected to account for approximately 40% of total NCM shipments. Accordingly, overall NCM shipments are expected to maintain double-digit growth, setting a new all-time high for the second consecutive year. Backed by differentiated high-nickel technology and mass production capabilities. L&F is expected to further strengthen its leading position in the next-generation cylindrical battery market.

The LFP business is also gaining momentum, with full-scale mass production underway and large-scale supply contracts secured. This year, L&F signed mid-to-long term supply agreements with four customers, including all three major Korean battery manufacturers and one global customer, securing 100 GWh of supply volume based on ESS battery capacity.

Based on these agreements, L&F expects LFP shipments to reach approximately 50kt in 2027 and over 60kt in 2028. The newly secured contracts will also add more than 30kt of annual supply volume starting in 2028.

As demand for non-China sourced materials continues to grow in the North American ESS market, L&F is also in ongoing discussions with global customers for additional supply agreements, supporting continued growth in its LFP business.

With its large-scale secured order backlog, L&F expects to achieve high capacity utilization and stable profitability from the early stages of the business with LFP sales and profit contributions gaining significant momentum from 2027.

L&F CFO Yu Sung Hun stated, “2026 has been a meaningful year for L&F, as the company achieved record-high shipments despite uncertainties in the global EV market, backed by its differentiated high-nickel technology, while establishing a new foundation for growth in LFP business through mid-to-long-term supply agreements with all three Korean battery manufacturers. In 2027, increased supply to existing and new 46-series projects, together growing LFP volumes for the North American ESS market will drive growth in both NCM and LFP businesses, resulting in meaningful revenue growth and improved profitability. We expect 2027 to mark a new chapter of growth for LFP.”