LG Energy Solution announced its preliminary financial results for Q3 2023.
The revenue stands at 8.2235 trillion won, with an operating profit of 731.2 billion won. Year-on-year, revenue increased by 7.5%, and operating profit soared by 40.1%. However, compared to the previous quarter, revenue saw a decline of 6.3%, while operating profit rose by 58.7%.
Tax credits under the U.S. Inflation Reduction Act’s Advanced Manufacturing Production Credit (45X) amounted to 215.5 billion won. Excluding this amount, the operating profit is reported at 515.7 billion won.
The preliminary results are estimated based on the Korean International Financial Reporting Standards (IFRS) and are provided for the convenience of investors.
Lee Sang-jin daedusj@autodiary.kr