LG Innotek, last year’s operating profit of 68 billion won… 43% ↑ compared to the previous year (total)

Input 2021.01.25 15:54 | Revision 2021.01.25 16:07

The optical solution and substrate material business reaped positively

LG Innotek’s operating profit last year recorded 68 billion won, a 42.9% increase from the previous year thanks to the strong performance of the optical solution business and substrate material business.

According to the announcement of LG Innotek on the 25th, the company’s annual sales last year were 9,541.8 billion won, up 19.6% from the previous year. In the fourth quarter alone, it achieved sales of KRW 3.842.8 trillion and operating profit of KRW 34.2 billion. Sales increased 32.3% and operating profit 37.9% YoY, respectively.

Amid strong performance in all business sectors, the optical solution business that produces cameras and 3D sensing modules rose 24.9% year-on-year with sales of 6.778.8 billion won last year. In the fourth quarter of last year alone, it recorded 3,566 billion won in sales (36% increase from the previous year). Compared to the previous third quarter, it increased by 110%. The company interpreted it as “a result of increased supply of new models to customers and increased sales of high value-added products such as triple cameras for smartphones and 3D sensing modules.”

In the case of the substrate material business that produces substrates for 5G communication semiconductors and displays, annual sales amounted to KRW 1.24 trillion, up 10.5% from the previous year. The fourth quarter’s earnings were 3339 billion won in sales, up 19% from the same period last year. The expansion of the supply of semiconductor substrates for 5G communication and solid sales of chip-on films for high-resolution displays and photomasks seem to have led the growth.

The annual sales of the electronic parts business in 2020 was 1.187 trillion won, an increase of 4.9% from the previous year. In the fourth quarter of 2020, sales increased by 14% compared to the same period of the previous year and 4% compared to the previous quarter (3rd quarter of 2020), totaling 3429 billion won. It can be interpreted that earnings have increased on the back of increased demand amid the global auto industry recovery and mass production of new projects.

A company official said, “High-performance products such as triple cameras for smartphones and 3D sensing modules led the performance, and electronic components such as semiconductors and display substrates for 5G communication, vehicle motors, lighting and power modules, etc. continued to grow solid, supporting the increase in earnings. “I said.