REG - LG Electronics Inc. - 2021 3Q Pre-earnings Guidance

LG ElectronicsAnnouncement

12/10/2021 07:00

RNS Number : 7732O
  
LG Electronics Incorporated
  
12 October 2021
  
 

 
LG ELECTRONICS INC.
(KRX: 066570)
 
PRE-EARNINGS GUIDANCE FOR 3Q 2021
(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 third quarter of 2021 as follows.
 
In the third quarter of 2021, the Group's consolidated sales amounted to KRW 18,784.5 billion (as

compared to KRW 17,113.9 billion in 2021.2Q and KRW 15,398.6 billion in 2020.3Q), representing

a quarter-on-quarter increase of 9.8% (QoQ 9.8%) and a year-on-year increase of 22.0% (YoY
22.0%).
 
The Group's consolidated operating income amounted to KRW 540.7 billion (as compared to KRW
878.1 billion in 2021.2Q and KRW 1073.8 billion in 2020.3Q), representing a quarter-on-quarter

decrease of 38.4 % (QoQ -38.4%) and a year-on-year decrease of 49.6% (YoY -49.6%).






(Billions of KRW)










LGE Consolidated, K-IFRS




　


2021.3Q


2021.2Q


QoQ(%)


2020.3Q


YoY(%)




Sales 


18,784.5


17,113.9


9.8%


15,398.6


22.0%




Operating Income (Loss)  


540.7


878.1


-38.4%


1073.8


-49.6%





With the official closure of the LG Mobile Communications Company at the end of the month, the

unit's earnings will not be reflected in this quarter's earnings report and will be treated as

discontinued operating losses. 
 
LG Electronics recognizes provisions of KRW 480 billion for the recall of the Chevy Bolt EV in the

third quarter. The amount of provisions is subject to change.
 
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 2021. 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
12 Oct, 2021


07336, Korea
LG Twin Towers

128, Yeoui-daero, Yeongdeungpo-gu, Seoul

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