REG - LG Electronics Inc. - 2022 2Q Pre-earnings Guidance

LG ElectronicsAnnouncement

07/07/2022 08:00

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RNS Number : 6559R  LG Electronics Incorporated  07 July 2022

 

LG ELECTRONICS INC.

(KRX: 066570)

 

PRE-EARNINGS GUIDANCE FOR 2Q 2022

(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
2022 as follows.

 

In the 2nd quarter of 2022, the Group's consolidated sales amounted to KRW
19,472.0 billion (as

compared to KRW 20,969.0 billion in 2022.1Q and KRW 16,932.3 billion in
2021.2Q), representing

a quarter-on-quarter decrease of 7.1% (QoQ -7.1%) and a year-on-year increase
of 15.0% (YoY

15.0%).

 

The Group's consolidated operating income amounted to KRW 791.7 billion (as
compared to KRW 1,942.9 billion in 2022.1Q and KRW 900.1 billion in 2021.2Q),
representing a quarter-on-quarter decrease of 59.3% (QoQ -59.3%) and a
year-on-year decrease of 12.0% (YoY -12.0%).

 (Billions of KRW)                              LGE Consolidated, K-IFRS
 　                          2022.2Q   2022.1Q   QoQ(%)     2021.2Q    YoY(%)
 Sales                      19,472.0  20,969.0  -7.1%      16,932.3   15.0%
 Operating Income (Loss)    791.7     1,942.9   -59.3%     900.1      -12.0%

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 2Q
2022. 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, 2022

07336, Korea

LG Twin Towers

128, Yeoui-daero, Yeongdeungpo-gu, Seoul

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