LG Energy Solution Reports Preliminary Q3 Operating Profit of 448.3 Billion KRW, Down 38.7% YoY

LG Energy Solution announced on the 8th that it recorded provisional sales of 6.8778 trillion KRW and an operating profit of 448.3 billion KRW for the third quarter.

Compared to the previous year, sales decreased by 16.4% and operating profit decreased by 38.7%. Compared to the previous quarter, sales increased by 11.6% and operating profit increased by 129.5%.

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

The tax credit under the U.S. Inflation Reduction Act (IRA) Advanced Manufacturing Production Credit (AMPC) amounted to 466 billion KRW, and excluding this, there was an operating loss of 17.7 billion KRW.

On the same day, LG Energy Solution also announced that it signed an electric vehicle battery supply contract with a Mercedes-Benz affiliate.

The contract period is from 2028 to 2038, and the total supply volume is 50.5 GWh.

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