REG - LG Electronics Inc. - 2023 2Q Pre-earnings Guidance

LG ElectronicsAnnouncement

07/07/2023 07:45

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RNS Number : 3274F  LG Electronics Incorporated  07 July 2023

 

LG ELECTRONICS INC.

(KRX: 066570)

 

PRE-EARNINGS GUIDANCE FOR 2Q 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 2nd quarter of
2023 as follows.

 

In the 2nd quarter of 2023, the Group's consolidated sales amounted to KRW
19,998.8 billion (as

compared to KRW 20,415.9 billion in 2023.1Q and KRW 19,464.0 billion in
2022.2Q), representing

a quarter-on-quarter decrease of 2.0% (QoQ -2.0%) and a year-on-year increase
of 2.7% (YoY

2.7%).

 

The Group's consolidated operating income amounted to KRW 892.7 billion (as
compared to KRW

1,497.4 billion in 2023.1Q and KRW 792.2 billion in 2022.2Q), representing a
quarter-on-quarter

decrease of 40.4% (QoQ -40.4%) and a year-on-year increase of 12.7% (YoY
12.7%).

 LGE Consolidated, K-IFRS                                         (Billions of KRW)
                          2023.2Q               2023.1Q   QoQ(%)  2022.2Q    YoY(%)
 Sales                    19,998.8              20,415.9  -2.0%   19,464.0   2.7%
 Operating Income (Loss)  892.7                 1,497.4   -40.4%  792.2      12.7%

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

related gains and losses in discontinued operations.

 

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 2Q
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 July, 2023

07336, Korea

LG Twin Towers

128, Yeoui-daero, Yeongdeungpo-gu, Seoul

 

 

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