[Concall] LG Energy Solution "Last Year's Revenue 25.5 Trillion KRW... Aiming for 30% Revenue Growth This Year"

[Asia Economy Reporter Donghoon Jeong] LG Energy Solution announced on the 27th that it recorded sales of 25.5986 trillion KRW and an operating profit of 1.2137 trillion KRW last year.

Compared to the previous year, sales increased by 43.4% and operating profit by 57.9%. Net profit for the period decreased by 16.1% to 779.8 billion KRW.

In the fourth quarter of last year, sales were 8.5735 trillion KRW and operating profit was 237.4 billion KRW. Compared to the same period last year, sales increased by 92.3% and operating profit by 213.6%. Net profit for the period rose by 283.8% to 275.6 billion KRW.

During the conference call on the day, LG Energy Solution set a sales target for this year with a maximum increase of 30% compared to last year. LG Energy Solution stated, "The goal for 2023 sales is to increase by 25-30% compared to the previous year." Considering last year's sales of 25.5986 trillion KRW, this means a sales target of approximately 33 trillion KRW for this year.

LG Energy Solution also announced that it will increase its capital expenditure (CAPEX) scale by more than 50% compared to the previous year.