Lee Chang-sil, Chief Financial Officer (CFO) of LG Energy Solution, stated during the Q1 earnings conference call held on the 25th, "In Q2, the impact on selling prices due to the decline in major metal prices such as lithium remains, and it seems to take some time for customer demand recovery, especially in Europe."
He added, "Sales in Q2 are expected to increase compared to Q1 due to an increase in joint venture (JV) volumes from new car launches by U.S. customers, but it may fall short of the initially anticipated level. The raw material cost lag effect caused by the decline in metal prices is expected to end starting from Q2, but since it still affects Q2, meaningful profitability improvement compared to Q1 will be difficult."
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