LG Energy Solution Surpasses 2 Trillion Won Operating Profit Last Year... Soars 78.2% Year-on-Year

Sales increased by 32% to 33.7 trillion KRW
Q4 operating profit reached 338.2 billion KRW

LG Energy Solution's operating profit exceeded 2 trillion won for the first time last year.

LG Energy Solution announced on the 9th that its provisional figures for last year showed sales of 33.7455 trillion won and an operating profit of 2.1632 trillion won. Sales surged 31.8% and operating profit soared 78.2% compared to the previous year.

Last year's fourth-quarter sales were 8.0014 trillion won, down 6.3% year-on-year, but operating profit increased 42.5% to 338.2 billion won.

On the 10th, LG Energy Solution headquarters on Yeouidaero, Yeongdeungpo-gu, Seoul. Photo by Jinhyung Kang aymsdream@

This operating profit includes a benefit of 250.1 billion won from the Advanced Manufacturing Production Tax Credit (AMPC) under the U.S. Inflation Reduction Act (IRA). Excluding this, the operating profit is 88.1 billion won.

LG Energy Solution, launched in December 2020, has shown steady growth. Previously, it recorded an annual operating profit of 768.5 billion won in 2021 and 1.2137 trillion won in 2022.

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