(iTers News) - Powered by shipment boom of car batteries to Europe as well as soaring sales of energy storage systems (ESS) to power-generating companies and commercial buildings, Samsung SDI swung back to profitability in the 4th quarter of fiscal 2017 from a year ago.

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The company chalked up an operating profit of 11.86 billion won in the fourth quarter ended on Dec 31 for the third quarter in a row on consolidated revenue of 1.8545 trillion won, a 42.3% year-on-year jump.

For the whole year of fiscal 2017, the secondary battery maker also swung back to profitability in 3 years netting up an operating profit of 11.69 billion won on consolidated revenue of 6.3216 trillion won.

Since 2014, Samsung SDI had been drowning itself into the red ink.

Samsung SDI has been selling and supplying more of its electric car batteries to more European automakers like Daimler, Mercedes, and so on.

The Korean battery maker is also beefing up its presence in the ESS market. Adding to the sales boom, it also successfully won orders for smartphone batteries from the global smartphone makers.

Samsung’s outlook for fiscal 2018 is bright,.  Some market research firms expect the Korean battery maker will mark record high profits in 2018, as Samsung SDI’s battery business profitability is improving.

Meanwhile, Samsung SDI is also heavily investing to keep its growth momentum. In 2017, Samsung SDI has spent approximately a trillion won to increase its production capacity and advance the battery technology.

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