REG - LG Electronics Inc. - 2023 3Q Pre-earnings Guidance

LG ElectronicsAnnouncement

10/10/2023 07:00

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RNS Number : 6130P  LG Electronics Incorporated  10 October 2023

LG ELECTRONICS INC.

(KRX: 066570)

 

PRE-EARNINGS GUIDANCE FOR 3Q 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 3rd quarter of
2023 as follows.

 

In the 3rd quarter of 2023, the Group's consolidated sales amounted to KRW
20,713.9 billion (as

compared to KRW 19,998.4 billion in 2023.2Q and KRW 21,176.8 billion in
2022.3Q), representing

a quarter-on-quarter increase of 3.6% (QoQ 3.6%) and a year-on-year decrease
of 2.2% (YoY

-2.2%).

 

The Group's consolidated operating income amounted to KRW 996.7 billion (as
compared to KRW

741.9 billion in 2023.2Q and KRW 746.6 billion in 2022.3Q), representing a
quarter-on-quarter

increase of 34.3% (QoQ 34.3%) and a year-on-year increase of 33.5% (YoY
33.5%).

 LGE Consolidated, K-IFRS                                         (Billions of KRW)
                          2023.3Q               2023.2Q   QoQ(%)  2022.3Q    YoY(%)
 Sales                    20,713.9              19,998.4  3.6%    21,176.8   -2.2%
 Operating Income (Loss)  996.7                 741.9     34.3%   746.6      33.5%

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 3Q
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

10 October, 2023

07336, Korea

LG Twin Towers

128, Yeoui-daero, Yeongdeungpo-gu, Seoul

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