Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) soon ki Lee Journalist = LG Energy Solutions(hereinafter referred to as LG Ensol) held a performance presentation on the 27th and announced that it achieved sales of 4.3423 trillion won and operating profit of 258.9 billion won in the first quarter.

Sales increased by 2.1% compared to the same period of the previous year (4.2541 trillion won) and decreased by 2.2% compared to the previous quarter (4.4394 trillion won). Operating profit decreased by 24.1% from the same period of the previous year(341.2 billion won) and increased by 242% from the previous quarter(75.7 billion won). The operating profit margin was 6%.

At the earnings presentation on the same day, LG Ensol’s CFO said, “There were many factors that increased business uncertainty, such as rising raw material prices, shortage of semiconductors for vehicles, and shortage of parts due to the Russia-Ukraine conflict. However, we achieved good results that exceeded market expectations based on firm demand for cylindrical batteries for EVs, minimizing market impact by linking the prices of major raw materials and improving productivity through process automation.”

LG Ensol plans to invest about 7 trillion won in facility investment to expand global battery production capacity this year.

LG Ensol said, “As various new projects such as joint ventures, new and expanded factories in North America, and the expansion of cylindrical production lines in China have been underway, the expected total investment has increased.”

Through such investment, LG Energy Solutions plans to expand its global production capacity from 200GWh at the end of this year to 520GWh as of 2025.

Meanwhile, this year’s sales target is 19.2 trillion won, an increase of about 1.3 trillion won from last year(17.9 trillion won).

NSP News Agency soon ki Lee Journalist s8789@nspna.com
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