LG Electronics said on Monday it posted preliminary first-quarter consolidated revenue of 23.73 trillion won and operating profit of 1.67 trillion won. Revenue rose 4.4 percent from a year earlier and operating profit increased 32.9 percent.

Revenue grew as its core businesses such as home appliances and its B2B businesses including vehicle components expanded in tandem. This led to a record first-quarter revenue.

Operating profit also improved. The company said proactive tariff measures such as optimising production locations, improvements to its cost structure across businesses and growth in high-profit businesses including platform, subscription and online sales combined to drive the result.

Its home appliances business (HS, Home Appliance Solution) continued to grow by targeting both premium and volume segments and increasing the share of online and appliance subscription sales. Its media and entertainment business (MS, Media Entertainment Solution) improved profitability from a year earlier through continued operational efficiency, turning profitable from the previous quarter. Its strategically fostered webOS platform is also growing rapidly.

Its vehicle components business (VS, Vehicle Solution) maintained stable revenue growth based on its order backlog. Its heating, ventilation and air conditioning business (ES, Eco Solution) posted lower revenue and operating profit than a year earlier due to market uncertainty including the Middle East war. The company plans to target demand for energy transition such as heat pumps and expand its lineup with next-generation technologies such as liquid cooling, focusing on securing opportunities in the AI data centre cooling solutions market.