LG Energy Solution announced its preliminary earnings for the second quarter of 2023.
Revenue reached 8.7735 trillion won, with an operating profit of 611.6 billion won. Compared to the same period last year, revenue increased by 73.0% and operating profit rose by 212.7%. Compared to the previous quarter, revenue increased by 0.3%, while operating profit decreased by 3.4%.
The Tax Credit under the U.S. Inflation Reduction Act’s Advanced Manufacturing Production Credit system (45X) amounted to 110.9 billion won, so the operating profit excluding this amount is 500.7 billion won.
The preliminary results are estimated based on International Financial Reporting Standards (IFRS) as adopted in Korea and are provided for the convenience of investors.
More detailed information will be presented at the corporate briefing scheduled for July 27, 2023 (Thursday).
Contact: 이상진 daedusj@autodiary.kr