LG Energy Solutions Q1 net nearly halves amid supply chain snags

BRAND / 김승연 / 2022-04-27 09:19:00
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LG Energy Solution-Q1 earnings

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)

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