[Concall] LG Energy Solution "Sales Expected to Decrease by Over 20%... ESS to Grow"

Impact of Metal Price Decline and Slowed Shipment Growth

On the 25th, LG Energy Solution stated during its Q2 earnings conference call that "lithium hydroxide, which has the greatest impact on product prices, was expected to remain around $20 per kg, but it is currently actually forming below $14," adding, "The weakness has continued through July, so battery prices in the second half of the year are also expected to remain at a low level."

They continued, "Our company's sales this year, initially projected to increase by single digits, are expected to decrease by more than 20% year-on-year due to a larger-than-expected slowdown in shipment growth and the impact of metal price declines on selling prices."

However, they said, "In the second half of the year, we plan meaningful growth compared to the first half due to increased demand from new car launches in North America and Europe," and added, "We expect ESS sales to expand based on the increased sales of power grid ESS."

LG Energy Solution Headquarters, Yeouido-daero, Yeongdeungpo-gu, Seoul. Photo by Jinhyung Kang aymsdream@

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