LG Chem Reports Operating Loss of 252 Billion Won, Turns to Deficit... Down 63.8%
LG Chem announced on the 3rd that it recorded an operating loss of 252 billion KRW in the fourth quarter of 2024, turning to a deficit compared to an operating profit of 247.4 billion KRW in the same period last year.
In 2024, LG Chem recorded consolidated sales of 48.9161 trillion KRW and an operating profit of 916.8 billion KRW. Sales decreased by 11.5% year-on-year, and operating profit fell by 63.8%.
LG Chem CFO Cha Dong-seok said regarding the 2024 performance, "Despite the challenging internal and external business environment, we strengthened our fundamentals by pursuing business structure advancement through rationalization of marginal businesses, along with achieving meaningful results in the three new growth engines: eco-friendly, battery materials, and new drugs, based on differentiated competitiveness."
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Excluding LG Energy Solution, LG Chem's sales last year were approximately 27.1 trillion KRW. Considering the external business environment, LG Chem set its sales target for this year at 26.5 trillion KRW.
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