REG - LG Electronics Inc. - 2023 1Q Pre-earnings Guidance

LG ElectronicsAnnouncement

11/04/2023 07:00

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RNS Number : 7083V  LG Electronics Incorporated  07 April 2023

 

LG ELECTRONICS INC.

(KRX: 066570)

 

PRE-EARNINGS GUIDANCE FOR 1Q 2023

(UNAUDITED OPERATING STATISTICS)

 

LG Electronics Inc. (the ''Company'') is pleased to announce certain unaudited
operating statistics

of the Company and its subsidiaries (the ''Group'') for the 1st quarter of
2023 as follows.

 

In the 1st quarter of 2023, the Group's consolidated sales amounted to KRW
20,417.8 billion (as

compared to KRW 21,857.5 billion in 2022.4Q and KRW 20,969.0 billion in
2022.1Q), representing

a quarter-on-quarter decrease of 6.6% (QoQ -6.6%) and a year-on-year decrease
of 2.6% (YoY

-2.6%).

 

The Group's consolidated operating income amounted to KRW 1,497.4 billion (as
compared to KRW
69.3 billion in 2022.4Q and KRW 1,942.9 billion in 2022.1Q), representing a
quarter-on-quarter

increase of 2060.8% (QoQ 2060.8%) and a year-on-year decrease of 22.9% (YoY
-22.9%).

 LGE Consolidated, K-IFRS                                          (Billions of KRW)
                          2023.1Q               2022.4Q   QoQ(%)   2022.1Q    YoY(%)
 Sales                    20,417.8              21,857.5  -6.6%    20,969.0   -2.6%
 Operating Income (Loss)  1,497.4               69.3      2060.8%  1,942.9    -22.9%

With the official closure of Solar panel business at the end of June 2022, the
Group presented

related gains and losses in discontinued operations. Sales and Operating
Income above

were restated in accordance with K-IFRS.

 

 

The above-mentioned sales data is unaudited and is based on preliminary
internal information of

the Group, which may differ from figures to be disclosed in the audited or
unaudited consolidated

financial statements to be published by the Company. Further details of the
Group's performance

will be disclosed when the Company announces its financial results for 1Q
2023. The above data

is provided for investors' reference only. When in doubt, investors are
advised to seek professional

advice from professional or financial advisers.

LG Electronics Inc.

IR Planning Team
7 April, 2023

07336, Korea

LG Twin Towers

128, Yeoui-daero, Yeongdeungpo-gu, Seoul

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