LG Energy Solution has announced its preliminary results for the second quarter of 2024.
Revenue stands at 6.1619 trillion won and operating profit at 195.3 billion won. Compared to the same period last year, revenue has decreased by 29.8%, and operating profit has dropped by 57.6%. However, from the previous quarter, revenue increased by 0.5% and operating profit rose by 24.2%.
The Tax Credit from the U.S. IRA (Inflation Reduction Act) under the Advanced Manufacturing Production Credit (45X) amounts to 447.8 billion won, making the operating profit excluding this amount -252.5 billion won.
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