LG Energy Solution Releases Preliminary Earnings for First Quarter 2022

LG Energy Solution (LGES; KRX: 373220) today announced its preliminary earnings results for the first quarter of 2022.

LGES reported revenues of KRW 4.34 trillion, a decrease of 2.2% compared to the previous quarter.
LG Energy Solution’s first quarter operating profit of KRW 258.9 billion is expected to be 242% higher on quarter.

Compared to the same period last year, the company’s revenue is set to be up 2.1%, while its operating profit is likely to be 24.1% lower.

These figures are the tentative consolidated earnings based on the Korean International Financial Reporting Standards (K-IFRS) provided as a service to investors prior to LG Energy Solution’s definitive earnings result including net profit. Details on the announcement of the official quarterly report will be made public on a later date.