[아이뉴스24 서민지 기자] As the market predicted last year, LG Innotek achieved the’highest ever’ performance.
LG Innotek announced on the 25th that it recorded KRW 3.84 trillion in sales and KRW 342.3 billion in operating profit in the fourth quarter of last year. Compared to the previous year, sales increased 32.3% and operating profit increased 37.9%. Compared to the previous quarter, it increased by 73.4% and 215.9%, respectively.
Last year’s annual sales increased 19.6% year-on-year to 9,5418 billion won, and operating profit increased 42.9% year-on-year to 681 billion won.
This is a report card that exceeds market expectations. According to F&Guide, a financial information company, LG Innotek’s earnings forecast for the fourth quarter is KRW 333.3 billion in operating profit and KRW 632.3 billion in annual operating profit.
In addition, LG Innotek’s quarterly as well as annual operating profit and sales all recorded’the highest ever’.
The optical solution business, which produces cameras and 3D sensing modules, and the substrate material business, which produces substrates for semiconductors and displays, led the increase in earnings. In the fourth quarter of last year, the optical solution business recorded sales of KRW 3.56 trillion, up 36% from the previous year. This is a result of the increase in the supply of new models to customers and the increase in sales of high value-added products such as triple cameras for smartphones and 3D sensing modules. Annual sales reached 6.79 trillion won, an increase of 24.9% compared to the previous year.
The substrate material business recorded KRW 339.6 billion in sales, up 19% from the same period last year. Growth continued with the expansion of the supply of semiconductor substrates for 5G communication and solid sales of chip-on-film (COF) and photomasks for high-resolution displays. The annual sales amounted to 1.2 trillion won, an increase of 10.5% over the previous year.
The electronic parts business recorded sales of 343.9 billion won in the fourth quarter of last year. This is a 14% increase from the previous year. Earnings increased on the back of growing demand amid the global auto industry recovery and mass production of new projects. In particular, it led sales growth by showing an even increase in performance in motors, lighting modules, and power modules for electric vehicles. The annual sales amounted to KRW 1.1 trillion, an increase of 4.9% from the previous year.
An official from LG Innotek said, “High-performance products such as triple cameras for smartphones and 3D sensing modules led the performance, and electronic components such as semiconductor and display substrates for 5G communication, automobile motors, lighting and power modules, etc., continued solid growth, supporting the increase in earnings. I said.
Reporter Minji Seo [email protected]