LG Hausys, 1Q Operating Profit 28 Billion KRW... 35% Increase YoY

Photo by LG Hausys

[Asia Economy Reporter Choi Dae-yeol] LG Hausys announced on the 28th that its consolidated operating profit for the first quarter of this year reached 28 billion KRW, a 35% increase compared to the same period last year. Sales rose 7% to 773.8 billion KRW during the same period.

By business segment, the building materials division recorded sales of 555.1 billion KRW and an operating profit of 31 billion KRW, representing increases of approximately 11% and 7% respectively compared to the same period last year. The automotive materials and industrial films division posted sales of 215.4 billion KRW, up 5% year-on-year. Operating losses narrowed to 3.2 billion KRW.

The company explained, "Sales of high-end building materials products increased, and sales of automotive materials slightly rose. Thanks to efforts to reduce costs and improve profitability, both sales and operating profit increased."

The company forecasted that rising raw material prices such as PVC may somewhat worsen performance in the second quarter. However, it added, "We will continue growth based on securing profitability by expanding B2C distribution channels, increasing domestic and overseas supply of high-value-added premium building materials products, and promoting cost improvement activities."

This content was produced with the assistance of AI translation services.