REG - LG Electronics Inc. - 2022 4Q Pre-earnings Guidance

LG ElectronicsAnnouncement

06/01/2023 07:15

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RNS Number : 9263L  LG Electronics Incorporated  06 January 2023

 

LG ELECTRONICS INC.

(KRX: 066570)

 

PRE-EARNINGS GUIDANCE FOR 4Q 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 4th quarter of
2022 as follows.

 

In the 4th quarter of 2022, the Group's consolidated sales amounted to KRW
21,859.7 billion (as

compared to KRW 21,176.8 billion in 2022.3Q and KRW 20,775.1 billion in
2021.4Q), representing

a quarter-on-quarter increase of 3.2% (QoQ 3.2%) and a year-on-year increase
of 5.2% (YoY

5.2%).

 

The Group's consolidated operating income amounted to KRW 65.5 billion (as
compared to KRW
746.6 billion in 2022.3Q and KRW 745.3 billion in 2021.4Q), representing a
quarter-on-quarter

decrease of -91.2% (QoQ -91.2%) and a year-on-year decrease of -91.2% (YoY
-91.2%).

 LGE Consolidated, K-IFRS                                         (Billions of KRW)
                          2022.4Q               2022.3Q   QoQ(%)  2021.4Q    YoY(%)
 Sales                    21,859.7              21,176.8  3.2%    20,775.1   5.2%
 Operating Income (Loss)  65.5                  746.6     -91.2%  745.3      -91.2%

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 4Q
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
6 Jan, 2023

07336, Korea

LG Twin Towers

128, Yeoui-daero, Yeongdeungpo-gu, Seoul

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