LG Energy Solution Releases Preliminary Earnings for First Quarter 2022

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Apr 07, 2022, 03:55 ET

SEOUL, South Korea, April 7, 2022 /PRNewswire/ -- LG Energy Solution (LGES; KRX: 373220) today announced its preliminary earnings results for the first quarter of 2022.

LGES reported revenues of KRW 4.34 trillion, a decrease of 2.2% compared to the previous quarter.

LG Energy Solution's first quarter operating profit of KRW 258.9 billion is expected to be 242% higher on quarter.

Compared to the same period last year, the company's revenue is set to be up 2.1%, while its operating profit is likely to be 24.1% lower.

These figures are the tentative consolidated earnings based on the Korean International Financial Reporting Standards (K-IFRS) provided as a service to investors prior to LG Energy Solution's definitive earnings result including net profit. Details on the announcement of the official quarterly report will be made public on a later date.

About LG Energy Solution

LG Energy Solution (KRX: 373220) is a global leader delivering advanced lithium-ion batteries for Electric Vehicles (EV), Mobility & IT applications, and Energy Storage Systems (ESS). With 30 years of experience in advanced battery technology, it continues to grow rapidly towards the realization of sustainable life. With its robust global network that spans the US, Europe, Asia, and Australia, LG Energy Solution is more committed than ever to developing innovative technologies that will bring the future energy a step closer. Under its ESG vision "We CHARGE toward a better future," LG Energy Solution is doing its utmost to prioritize environment, fulfil social responsibilities and shape sustainable future. For more information, please visit https://www.lgensol.com.

SOURCE LG Energy Solution