LG HelloVision's 2024 Operating Profit Reaches 18.7 Billion Won...Up 39% from Previous Year

Revenue Reaches 1.2657 Trillion Won, Up 5.8% Year-on-Year
Financial Improvement Achieved Through Cost Efficiencies Despite Voluntary Retirement Program

LG HelloVision announced in a regulatory filing on the 5th that its provisional operating profit for last year came to 18.7 billion won, up 39% from a year earlier. During the same period, revenue increased by 5.8% to 1.2657 trillion won.

Growth in the rental and education businesses drove the increase in revenue, leading to improved annual results. LG HelloVision explained that, despite incurring one-off costs due to a voluntary retirement program carried out in the fourth quarter of last year, company-wide cost efficiencies and a decline in depreciation expenses reduced its fixed cost burden and translated into financial improvement.

LG. Provided by LG HelloVision

However, fourth-quarter revenue last year came to 299.5 billion won, down 7.1% from the same period a year earlier. The company also swung to an operating loss of 7.9 billion won in the quarter. Fourth-quarter revenue was affected by a decline in terminal sales revenue to local education offices, and the company booked a loss as one-off expenses, such as increased labor costs associated with voluntary retirement, were recognized in the quarter.

By business segment, fourth-quarter revenue was 123.2 billion won for broadcasting, 33.9 billion won for telecommunications, and 38.1 billion won for mobile virtual network operator (MVNO) services. Region-based businesses, including media and business-to-business (B2B) services, posted 58.6 billion won, while rental recorded 45.3 billion won.

LG HelloVision strengthened the competitiveness and profitability of its broadcasting products last year in response to changes in the media environment. In the MVNO segment, it maintained subscriber growth by promoting reasonably priced plans. The rental business grew as expanded partnerships coincided with demand for seasonal home appliances, while in the media business, its official YouTube channel "Hello Life" surpassed 1 million subscribers, becoming the first paid broadcasting platform channel to do so.

Kim Youngjoon, Chief Financial Officer and Chief Risk Officer (CFO/CRO and Executive Director) of LG HelloVision, said, "2025 was a year in which we focused on enhancing management efficiency and building a foundation for sustainable growth," adding, "This year, we will concentrate on strengthening sound management and restoring the competitiveness of our core business."

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