On a consolidated basis, LG Electronics announced on the 29th that it recorded 63,26.2 billion won in sales and 3.19 trillion won in operating profit last year.
Sales increased 1.5% YoY and operating profit increased 31.1% YoY.
In particular, the operating profit exceeded 3 trillion won for the first time in LG Electronics history, and the operating margin also reached 5% for the first time in history.
In the fourth quarter of last year, sales of 18,780.8 billion won and operating profit were totaled at 650.2 billion won. Both sales and operating profit were record highs in 4Q. Sales exceeded 18 trillion won for the first time on a quarterly basis.
The H&A (Household Appliances) business division is driven by strong sales of new home appliances represented by steam appliances such as stylers, dryers, and dishwashers, and sales growth in the rental business. KRW billion), all achieved the highest performance ever. The operating margin was also 10.6%, recording the first double digits.
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In the case of the VS (electrical equipment) division, it suffered from the shutdown of automakers in North America and Europe at the beginning of last year. In addition, the sales of new projects increased, and the VS business division recorded the highest annual sales of 5,801.5 billion won.
This year, LG Electronics plans to create growth and change based on customer value by incorporating core technologies such as artificial intelligence, 5G, Internet of Things (IoT), and mobility in all business areas this year. In particular, it plans to expand sales of premium products such as sanitary appliances, space appliances, and OLED TVs, and actively respond to product demand caused by non-face-to-face trends.