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Industry
LG Energy Solution posts Q1 operating loss of 207.8 billion won, swings to deficit
LG Energy Solution said on Monday it posted preliminary first-quarter revenue of 6.56 trillion won and an operating loss of 207.8 billion won. Revenue fell 2.5 percent from a year earlier and operating profit dropped 155.5 percent, turning negative after a year. Performance also worsened from the previous quarter, with revenue down 1.2 percent and operating profit down 70.3 percent. U.S. IRA tax credits totaled 189.8 billion won.
Industry
Korea\'s three battery makers set for first-quarter losses
South Korea\'s three battery makers are expected to post losses in the first quarter, as weak conditions in automotive batteries and a transition toward energy storage systems weigh on results. Securities industry estimates point to operating losses at LG Energy Solution, Samsung SDI and SK On. Analysts also flag a domestic production promotion tax credit, expected to take shape in a July tax revision plan, as a potential variable for profitability in the second half.
Industry
LG Energy Solution posts Q4 operating loss of 122.0 billion won, down 45.9 percent on year
LG Energy Solution said on Jan. 9 it posted fourth-quarter revenue of 6.1415 trillion won and an operating loss of 122.0 billion won. Revenue rose 7.7 percent from the previous quarter, while operating profit swung to a loss. Revenue fell 4.8 percent from a year earlier and the operating loss narrowed from 225.5 billion won. Tax credits totalled 332.8 billion won, and the operating loss excluding them was 454.8 billion won.