LG Energy Solution-Q1 earnings

LG Energy Solutions Q1 net nearly halves amid supply chain snags

SEOUL, April 27 (Yonhap) -- LG Energy Solution Ltd. said Wednesday its first-quarter net income nearly halved from a year earlier amid the prolonged global chip supply disruptions.

Net income came to 226.6 billion won (US$179.5 million) in the January-March period, compared with a net profit of 433.6 billion won the previous year, South Korea's top battery maker said in a regulatory filing.

Operating profit sank 24.1 percent on-year to 258.9 billion won, with sales reaching 4.34 trillion won, up 2.1 percent over the cited period.

The first-quarter earnings results were released before the market opened.

(END)

[ⓒ K-VIBE. 무단전재-재배포 금지]