Search results for 45X
Industry
LG Energy Solution posts Q2 operating profit of 113.3 billion won, down 77 percent year on year
LG Energy Solution said on Tuesday it posted second-quarter revenue of 7.56 trillion won and operating profit of 113.3 billion won. Revenue rose 24.8 percent from a year earlier, while operating profit fell 77 percent. The operating profit includes the effect of U.S. Inflation Reduction Act production subsidies. The company received 241.0 billion won in tax credits in the quarter; excluding them, it would have posted an operating loss of 127.7 billion won.
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.
