{"slug":"lotte-energy-materials","name":"롯데에너지머티리얼즈","name_en":"Lotte Energy Materials","ticker":"020150.KS","updated_at":"2026-07-12T06:24:39.901651+00:00","canonical":"https://valuechain.wiki/lotte-energy-materials","same_as":["https://finance.yahoo.com/quote/020150.KS","https://finance.naver.com/item/main.naver?code=020150"],"citable":"밸류체인 그래프 기준 롯데에너지머티리얼즈의 직접 연결 기업은 4곳(관계 기준 공급 0·매출 3·투자 1)이고, 사슬을 2차까지 넓히면 11곳에 닿는다. 링크의 근거 출처는 6건이며 그중 1차공시가 2건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Lotte Energy Materials is directly linked to 4 companies (0 supply, 3 revenue, 1 investment relationships) and reaches 11 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-07-12).","kicker":"코스닥 · 2차전지 소재 · 하이엔드 전지박(동박)","kicker_en":"KOSDAQ · Battery materials · High-end copper foil","lead":"롯데에너지머티리얼즈는 2차전지 음극집전체용 전지박(동박)을 만드는 소재사로, 옛 일진머티리얼즈다. 2023년 롯데케미칼이 인수해 계열사가 됐다. 초극박·고강도 하이엔드 동박이 강점이며 주요 고객은 LG에너지솔루션·삼성SDI·BYD다. 미국 EV 수요 둔화와 북미 고객 공장 가동 중단으로 2025년 매출이 줄고 적자가 이어지자, ESS와 PCB용 회로박으로 다변화하고 있다.","lead_en":"Lotte Energy Materials, formerly Iljin Materials, makes electrodeposited copper foil (Elecfoil) used as the anode current collector in lithium-ion batteries. Lotte Chemical acquired it in 2023. Its strength is ultra-thin, high-strength high-end foil, and its main customers are LG Energy Solution, Samsung SDI and BYD. With US EV demand soft and a North American customer's plant halted, 2025 revenue fell and losses continued, prompting diversification into ESS and PCB copper foil.","segments":{"fy":2025,"parts":[{"desc":"2차전지 음극집전체용 초극박·고강도 하이엔드 동박(EV·ESS용) — 실적을 좌우하는 주력. LG에너지솔루션·삼성SDI·BYD 셀 고객의 EV 가동률에 종속돼, 2025년 북미 수요 둔화·고객 공장 가동 중단으로 가동률이 47.4%까지 낮아졌다.","name":"전지박(동박) Elecfoil"},{"desc":"PCB·AI 서버 기판·CCL용 고부가 동박으로의 라인 전환 — 익산 캐파를 2025년 3,700톤에서 2027년 1.6만톤으로 확대. ESS와 합산 판매 비중을 2026년 약 47%로 끌어올려 EV 편중을 완화하는 다변화 축.","name":"회로박(PCB·CCL용)"}],"total":"FY2025 연결매출 6,775억원(전년 대비 -24.9%)·영업손실 1,452억원(적자 확대). Elecfoil 가동률 47.4%(말레이시아 약 43%) — 북미 EV 고객 공장 가동 중단이 판가·가동률을 함께 눌렀다","source":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260310002974","concentration":"LG에너지솔루션·삼성SDI·BYD 등 셀 고객 중심. 북미 고객 비중이 실적 변수"},"segments_en":{"fy":2025,"parts":[{"desc":"Ultra-thin, high-strength hi-end copper foil for battery anodes (EV, ESS) — the core that drives results. Dependent on cell customers' (LGES, Samsung SDI, BYD) EV utilization, its own utilization fell to 47.4% in 2025 on North American demand softness and customer plant shutdowns.","name":"Battery foil (Elecfoil)"},{"desc":"A line shift into high-value copper foil for PCBs, AI-server substrates and CCL — Iksan capacity expanding from 3,700 tpy in 2025 to 16,000 tpy by 2027. With ESS, lifting its mix share to ~47% by 2026, a diversification axis easing EV concentration.","name":"Circuit foil (PCB/CCL)"}],"total":"FY2025 consolidated revenue KRW 677.5bn (-24.9% YoY), operating loss KRW 145.2bn (widening). Elecfoil utilization 47.4% (Malaysia ~43%) — North American EV customers' plant shutdowns pressured both price and utilization","source":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260310002974","concentration":"Centered on cell customers LG Energy Solution, Samsung SDI and BYD; the North American customer weighting is the key swing factor"},"returns_yearly":{"2021":31.5,"2022":-32.9,"2023":-49.3,"2024":-30,"2025":75.8,"2026":-8.4},"return_asof":"2026-07-10","value_chain":{"leading":[{"slug":"apple","name":"Apple","name_en":"Apple","tier":3,"returns_yearly":{"2021":34.6,"2022":-26.4,"2023":49,"2024":30.7,"2025":9.1,"2026":16.2}},{"slug":"nvidia","name":"NVIDIA","name_en":"NVIDIA","tier":3,"returns_yearly":{"2021":125.5,"2022":-50.3,"2023":239,"2024":171.2,"2025":38.9,"2026":13.3}},{"slug":"mazda-motor","name":"마쓰다","name_en":"Mazda Motor","tier":3,"returns_yearly":{"2021":18.8,"2022":22.8,"2023":81.1,"2024":-39,"2025":17.3,"2026":-3.2}},{"slug":"xiaomi","name":"샤오미","name_en":"Xiaomi","tier":3,"returns_yearly":{"2021":-43.9,"2022":-21.1,"2023":-4.6,"2024":209.7,"2025":-6.9,"2026":-27.2}},{"slug":"honda-motor","name":"혼다","name_en":"Honda Motor","tier":2,"returns_yearly":{"2021":25.8,"2022":-0.8,"2023":62.2,"2024":-8,"2025":10,"2026":-1.2}},{"slug":"general-motors","name":"제너럴 모터스","name_en":"General Motors","tier":2,"returns_yearly":{"2021":40.8,"2022":-42.4,"2023":7.9,"2024":49.8,"2025":54.2,"2026":-3.8}},{"slug":"hyundai-motor-company","name":"현대차","name_en":"Hyundai Motor Company","tier":2,"returns_yearly":{"2021":-16.7,"2022":-4.7,"2023":16.2,"2024":12.3,"2025":158.8,"2026":-7.8}},{"slug":"tesla","name":"Tesla","name_en":"Tesla","tier":2,"returns_yearly":{"2021":49.8,"2022":-65,"2023":101.7,"2024":62.5,"2025":11.4,"2026":-9.3}},{"slug":"toyota","name":"Toyota Motor Corporation","name_en":"Toyota Motor Corporation","tier":2,"returns_yearly":{"2021":58.1,"2022":-13.4,"2023":63,"2024":1.8,"2025":21.8,"2026":-18.2}},{"slug":"byd-electronics","name":"BYD일렉트로닉스","name_en":"BYD Electronics","tier":2,"returns_yearly":{"2021":-56.1,"2022":16,"2023":-0.4,"2024":60.6,"2025":-19.4,"2026":-34.4}},{"slug":"samsung-sdi","name":"삼성SDI","name_en":"Samsung SDI","tier":1,"returns_yearly":{"2021":-19,"2022":15.8,"2023":-45.7,"2024":-40.2,"2025":75.7,"2026":11.3}},{"slug":"byd","name":"BYD","name_en":"BYD","tier":1,"returns_yearly":{"2021":-6.5,"2022":10.5,"2023":-28.5,"2024":58.9,"2025":8.7,"2026":-12.7}},{"slug":"lg-energy-solution","name":"LG에너지솔루션","name_en":"LG Energy Solution","tier":1,"returns_yearly":{"2023":-26.9,"2024":-7.6,"2025":13.1,"2026":-18.1}}],"benefiting":[{"slug":"lotte-chemical","name":"롯데케미칼","name_en":"Lotte Chemical","tier":1,"returns_yearly":{"2021":-22.5,"2022":-3.6,"2023":-24.4,"2024":-56.1,"2025":50.1,"2026":-25.4}},{"slug":"itochu","name":"이토추상사","name_en":"Itochu","tier":2,"returns_yearly":{"2021":25.6,"2022":17.9,"2023":66.6,"2024":9.1,"2025":40.8,"2026":-3.4}},{"slug":"hitachi-construction-machinery","name":"히타치건설기계","name_en":"Hitachi Construction Machinery","tier":3,"returns_yearly":{"2021":-3.3,"2022":9.6,"2023":44.5,"2024":-9,"2025":41.3,"2026":5.8}},{"slug":"berkshire-hathaway","name":"Berkshire Hathaway","name_en":"Berkshire Hathaway","tier":3,"returns_yearly":{"2021":29,"2022":3.3,"2023":15.5,"2024":27.1,"2025":10.9,"2026":-1.8}},{"slug":"citic-limited","name":"중신그룹(CITIC)","name_en":"CITIC Limited","tier":3,"returns_yearly":{"2021":52.8,"2022":13.6,"2023":-11.6,"2024":25.8,"2025":50.6,"2026":-8.4}}],"analysis":"2차전지 음극집전체용 하이엔드 전지박(동박)을 만드는 소재사(옛 일진머티리얼즈)로, 2023년 롯데케미칼이 인수한 계열사다. 초극박·고강도라는 기술 우위에도 실적은 LG에너지솔루션·삼성SDI·BYD 등 셀 고객의 EV 가동률에 종속되는데, 미국 EV 수요 둔화와 북미 고객 공장 가동 중단으로 2025년 매출이 줄고 적자가 이어졌다. 특히 독점 공급사로 선정됐던 삼성SDI-스텔란티스 JV(스타플러스에너지)가 2026년 2월 청산 협의로 물량이 불확실해진 것이 북미 익스포저의 하방 리스크를 드러냈다. 대응으로 PCB·AI 서버 기판용 회로박으로 다변화 중이며, 원가는 전기동(구리) 가격과 전해공정 전력비에 직접 노출된다 — 관전 포인트는 셀 고객 가동률 회복과 회로박 전환 속도다.","analysis_en":"A materials maker of high-end electrodeposited copper foil for lithium-ion anodes (formerly Iljin Materials), a Lotte Chemical affiliate since its 2023 acquisition. Despite an edge in ultra-thin, high-strength foil, its results are hostage to the EV utilization of cell customers LG Energy Solution, Samsung SDI and BYD; soft US EV demand and a North American customer's plant halt cut 2025 revenue and prolonged losses. In particular, the Samsung SDI-Stellantis JV (StarPlus Energy) — where it was named exclusive foil supplier — entering liquidation talks in February 2026 exposed the downside of its North American exposure. In response it is diversifying into PCB and AI-server-substrate copper foil, while costs are directly exposed to copper prices and the power-intensive electrolytic process — the watch points are a recovery in cell-customer utilization and the pace of the circuit-foil pivot.","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"LG에너지솔루션","counterparty_slug":"lg-energy-solution","confidence":"high","metric":{"fy":2025,"seg":"전지박","driver":"copper_price+plant_shutdown","util_pct":47.4,"qualifier":"cell_customer_EV_utilization"},"note":"글로벌 셀 고객 중 하나로 2차전지용 동박을 공급한다.","note_en":"One of its global cell customers, supplied with copper foil for lithium-ion batteries.","sources":[{"stance":"mentions","publisher":"유진·SK·NH투자증권","publisher_en":"Eugene, SK, NH Investment & Securities","kind":"research","lang":"ko","published_at":"2026-04-22","url":"https://www.newspim.com/news/view/20260422000101","title":"증권가, 롯데에너지머티리얼즈 회로박·ESS 전환 수혜 — 목표가 6.5만~9만원 상향","title_en":"Brokerages on Lotte Energy Materials' shift to circuit foil/ESS — targets raised to KRW 65,000-90,000 (Eugene, SK, NH); ESS+circuit-foil to 47% of mix by 2026","excerpt":"증권가: 회로박·ESS 전환 수혜(2026 비중 47%), 목표가 6.5만~9만원 상향(유진·SK·NH).","excerpt_en":"Analysts: circuit-foil/ESS shift benefit (47% of mix in 2026); targets raised to KRW 65,000-90,000."},{"stance":"confirms","publisher":"금융감독원 전자공시(DART)","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-10","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260310002974","title":"롯데에너지머티리얼즈 제39기 사업보고서 (2025.12)","title_en":"Lotte Energy Materials FY2025 Annual Report (DART)","excerpt":"FY2025 연결매출 6,775억(-24.9%)·영업손실 1,452억; Elecfoil 가동률 47.4%(말레이시아 43%).","excerpt_en":"FY2025 consolidated revenue KRW 677.5bn (-24.9%), operating loss KRW 145.2bn; Elecfoil utilization 47.4% (Malaysia 43%)."},{"stance":"mentions","publisher":"한국거래소 KIND","publisher_en":"KRX KIND","kind":"filing","lang":"ko","published_at":"2025-03-14","url":"https://kind.krx.co.kr/common/disclsviewer.do?acptno=20250314002043&docno=&method=search","title":"롯데에너지머티리얼즈 사업보고서","title_en":"Lotte Energy Materials business report","excerpt":"사업보고서는 전지박(Elecfoil) 사업과 주요 2차전지 셀 고객 구조를 다룬다.","excerpt_en":"The filing covers the Elecfoil business and its main lithium-ion cell customers."},{"stance":"confirms","publisher":"코리아이코노믹데일리(KED Global)","publisher_en":"KED Global","kind":"news","lang":"en","published_at":"2024-06-21","url":"https://www.kedglobal.com/batteries/newsView/ked202406210015","title":"Lotte Energy Materials sets sights beyond copper foil: CEO Kim","title_en":"Lotte Energy Materials sets sights beyond copper foil: CEO Kim","excerpt":"롯데에너지머티리얼즈는 중국 BYD와 한국 LG에너지솔루션·삼성SDI 등 글로벌 EV 배터리 제조사에 동박을 공급한다.","excerpt_en":"Lotte Energy Materials supplies copper foil to global EV battery makers including China's BYD and Korea's LG Energy Solution and Samsung SDI."}]},{"direction":"revenue","counterparty":"삼성SDI","counterparty_slug":"samsung-sdi","confidence":"high","metric":null,"note":"삼성SDI에 동박을 공급한다. 2024년 삼성SDI·스텔란티스 JV 스타플러스에너지 미국 공장의 동박 독점 공급사로 선정됐으나, 그 JV는 2026년 2월 청산 협의가 보도돼 미국 JV향 물량은 불확실하다.","note_en":"Supplies copper foil to Samsung SDI. It was named exclusive copper foil supplier to the Samsung SDI-Stellantis JV StarPlus Energy's US plant in 2024, but that JV was reported to be in liquidation talks in February 2026, leaving the US-JV volume uncertain.","sources":[{"stance":"confirms","publisher":"KED글로벌","publisher_en":"KED Global","kind":"news","lang":"en","published_at":"2026-02-11","url":"https://www.kedglobal.com/batteries/newsView/ked202602110004","title":"삼성SDI·스텔란티스, JV 청산 협의","title_en":"Samsung SDI, Stellantis move to unwind JV","excerpt":"삼성SDI가 스텔란티스와 인디애나 배터리 JV 스타플러스에너지 청산을 논의 중으로, 한미 배터리 동맹 축소 흐름의 일부다.","excerpt_en":"Samsung SDI is in talks with Stellantis to liquidate their Indiana battery JV StarPlus Energy, part of a broader scaling-back of Korea-US battery alliances."},{"stance":"confirms","publisher":"KED글로벌","publisher_en":"KED Global","kind":"news","lang":"en","published_at":"2024-08-26","url":"https://www.kedglobal.com/batteries/newsView/ked202408260010","title":"롯데에너지, 삼성SDI-스텔란티스 JV에 동박 공급","title_en":"Lotte Energy to supply copper foil to Samsung SDI-Stellantis JV","excerpt":"롯데에너지머티리얼즈가 삼성SDI·스텔란티스 JV 스타플러스에너지의 유일한 품질 통과 업체로 미국 인디애나 공장 동박 독점 공급사에 선정됐고, 가동률에 따라 연 1,000억~3,000억원 매출이 추정됐다.","excerpt_en":"Lotte Energy Materials was selected as the exclusive copper foil supplier to StarPlus Energy's Indiana plant as the only vendor to pass its quality test, with estimated annual sales of 100-300 billion won depending on utilization."}]},{"direction":"investor","counterparty":"롯데케미칼","counterparty_slug":"lotte-chemical","confidence":"high","metric":null,"note":"롯데케미칼이 2023년 옛 일진머티리얼즈를 인수해 최대주주가 된 모회사다.","note_en":"Lotte Chemical is the parent and largest shareholder, having acquired the former Iljin Materials in 2023.","sources":[{"stance":"confirms","publisher":"한국거래소 KIND","publisher_en":"KRX KIND","kind":"filing","lang":"ko","published_at":"2025-03-14","url":"https://kind.krx.co.kr/common/disclsviewer.do?acptno=20250314002043&docno=&method=search","title":"롯데에너지머티리얼즈 사업보고서","title_en":"Lotte Energy Materials business report","excerpt":"사업보고서상 롯데케미칼(및 종속회사)이 2023년 인수로 최대주주가 된 모회사로 기재돼 있다.","excerpt_en":"The filing lists Lotte Chemical (and its subsidiary) as the parent and largest shareholder following the 2023 acquisition."}]},{"direction":"cost","counterparty":"전력·생산설비 (비공개)","counterparty_slug":null,"confidence":"mid","metric":null,"note":"전해 공정 특성상 전력 비중이 크고, 말레이시아·유럽·북미 증설 등 설비투자가 이어진다. 세부는 비공개.","note_en":"The electrolytic process is power-intensive, and capital spending continues on expansions in Malaysia, Europe and North America. Details undisclosed.","sources":[{"stance":"mentions","publisher":"한국거래소 KIND","publisher_en":"KRX KIND","kind":"filing","lang":"ko","published_at":"2025-03-14","url":"https://kind.krx.co.kr/common/disclsviewer.do?acptno=20250314002043&docno=&method=search","title":"롯데에너지머티리얼즈 사업보고서","title_en":"Lotte Energy Materials business report","excerpt":"사업보고서는 전해 동박 생산의 전력 사용과 해외 생산라인 증설 등 설비투자 계획을 다룬다.","excerpt_en":"The filing covers electricity use in electrolytic foil production and capital-spending plans for overseas line expansions."}]},{"direction":"cost","counterparty":"전기동(구리) 원료 (비공개)","counterparty_slug":null,"confidence":"mid","metric":null,"note":"동박의 주 원료인 전기동(구리). 구리 가격 변동이 원가에 직접 영향을 준다. 개별 공급사·단가는 비공개.","note_en":"Electrolytic copper, the main raw material for copper foil; copper price swings feed straight into costs. Individual suppliers and prices undisclosed.","sources":[{"stance":"mentions","publisher":"한국거래소 KIND","publisher_en":"KRX KIND","kind":"filing","lang":"ko","published_at":"2025-03-14","url":"https://kind.krx.co.kr/common/disclsviewer.do?acptno=20250314002043&docno=&method=search","title":"롯데에너지머티리얼즈 사업보고서","title_en":"Lotte Energy Materials business report","excerpt":"사업보고서는 전지박 생산의 주 원재료가 전기동(구리)이며 원자재 가격 변동이 실적에 영향을 준다고 밝힌다.","excerpt_en":"The filing notes that electrolytic copper is the main raw material for copper foil and that raw-material price swings affect results."}]},{"direction":"revenue","counterparty":"BYD(비야디)","counterparty_slug":"byd","confidence":"mid","metric":null,"note":"중국 BYD에도 2차전지용 동박을 공급하는 것으로 보도됐다.","note_en":"Reported to also supply copper foil to China's BYD for lithium-ion batteries.","sources":[{"stance":"confirms","publisher":"코리아이코노믹데일리(KED Global)","publisher_en":"KED Global","kind":"news","lang":"en","published_at":"2024-06-21","url":"https://www.kedglobal.com/batteries/newsView/ked202406210015","title":"Lotte Energy Materials sets sights beyond copper foil: CEO Kim","title_en":"Lotte Energy Materials sets sights beyond copper foil: CEO Kim","excerpt":"롯데에너지머티리얼즈의 고객에는 중국 BYD가 포함된다.","excerpt_en":"Lotte Energy Materials' customers include China's BYD."}]}]}