Operating Profit 1.3354 Trillion KRW, Down 10.8% YoY
Strong Performance in Home Appliances and Automotive Electronics
LG Electronics recorded its highest-ever first-quarter sales, driven by strong performance in home appliances and its future growth business, automotive components (vehicle electric and electronic equipment). Although operating profit slightly decreased, it exceeded 1 trillion won for the fifth consecutive year since 2020 in the first quarter.
LG Electronics announced on the 25th that its consolidated operating profit for the first quarter of this year was tentatively estimated at 1.3354 trillion won, down 10.8% from the same period last year. First-quarter sales increased by 3.3% year-on-year to 21.0959 trillion won, marking the highest ever for a first quarter. Net profit rose 7.1% to 585.4 billion won.
By business division, the H&A Business Division, responsible for home appliances, recorded first-quarter sales of 8.0675 trillion won and operating profit of 940.3 billion won. Sales rose 7.2% compared to the same period last year, reaching a record high.
The VS Business Division, in charge of automotive components, posted first-quarter sales of 2.6619 trillion won and operating profit of 52 billion won. The HE Business Division, responsible for the TV business, recorded sales of 3.492 trillion won, up 4.2% year-on-year, and operating profit turned positive at 132.2 billion won, supported by growth in the webOS content and service business.
The Business Solutions (BS) Business Division recorded first-quarter sales of 1.5755 trillion won and operating profit of 12.8 billion won. Sales increased 6.5% compared to the same period last year.
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