LG Electronics’ annual operating profit exceeded 3 trillion won for the first time last year. In the fourth quarter of last year, it achieved the highest quarterly performance ever.
LG Electronics announced on the 8th that last year’s operating profit was estimated to be 3.19 trillion won, a 31% increase from the previous year (2.43 trillion won). Last year’s sales amounted to 63,2638 billion won, an increase of 1.5% from the same period last year (62.36 trillion won).
During this period, sales and operating profit were the highest, respectively, up 1.5% and 31% year-on-year, respectively. In particular, this is the first time that annual operating profit has exceeded 3 trillion won.
In addition, operating profit in the fourth quarter of last year was 670 billion won, an increase of 535.6% from the same period of the previous year (111.8 billion won). During the same period, the sales amounted to 18 trillion 7826 billion won, up 16.9% from the same period last year (16 trillion 61 billion won).
Sales in the fourth quarter were the highest in history, and the operating profit for the same period was the highest in the fourth quarter.
The stock market predicts that LG Electronics’ home appliance business unit recorded an operating profit of around 400 billion won in the fourth quarter, making it better.
The TV division’s operating profit is expected to reach 200 billion won. In 4Q, both home appliances and TVs generally deteriorated due to the expansion of year-end promotions.
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The smartphone (MC) division is expected to record an operating loss of 200 billion won. Amid continuous cost structure improvement, entry-level sales are expected to increase in North and Central America. It is analyzed that the electronics division has increased sales and reduced losses due to recovery in advanced markets such as North America and Europe.
The provisional results are estimates based on the Korean International Accounting Standards (K-IFRS). Consolidated net profit and earnings by division are planned to be announced at the earnings presentation scheduled at the end of this month.