LG Energy Solution Reports First Quarterly Loss in Three Years

2025-01-24 / Read about 0 minute

Author：小编

South Korean battery manufacturer LG Energy Solution has announced a net loss of KRW 411 billion (approximately USD 287.2 million) for the fourth quarter of 2022, a stark contrast to the net profit of KRW 190.3 billion recorded in the same quarter of the previous year. The company's operating loss for the quarter stood at KRW 225.5 billion, a significant decline from the operating profit of KRW 338.2 billion achieved in the corresponding quarter of 2021. This marks the first quarterly loss for LG Energy Solution in three years, primarily attributed to a downturn in demand for electric vehicles. Revenue for the fourth quarter decreased by 19.4% year-on-year, totaling KRW 6.45 trillion.

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