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【Chemical Machinery and Equipment Network Star Enterprise】LG Chem recently released its third quarter 2022 results
.
.
Sales: 14.
1777 trillion won
1777 trillion won
Operating profit: KRW 901.
2 billion
2 billion
Compared to the previous quarter, sales increased by 15.
8% and operating profit increased by 2.
6%.
8% and operating profit increased by 2.
6%.
Compared to the same period last year, sales increased by 33.
8% and operating profit increased by 23.
9%.
8% and operating profit increased by 23.
9%.
"Despite the deteriorating petrochemical market situation and reduced profitability due to the global economic recession, LG Chem CFO Dong-seok Che said, "Despite the further deterioration of the petrochemical market situation and the decrease in profitability due to the global economic recession, sales growth and profitability increased in the advanced materials and new energy business segments, resulting in solid overall performance
.
He also pointed out that "with the fourth quarter as the node, it is expected that the petrochemical market situation will gradually improve
after that.
" At the same time, we will continue to expand our battery materials business such as cathode materials to further expand our profitability
.
”
.
He also pointed out that "with the fourth quarter as the node, it is expected that the petrochemical market situation will gradually improve
after that.
" At the same time, we will continue to expand our battery materials business such as cathode materials to further expand our profitability
.
”
petrochemistry
Sales: 5.
4931 trillion won
4931 trillion won
Operating profit: KRW 92.
6 billion
6 billion
Profitability declined
due to high oil prices and a continuous decrease in demand due to global inflation.
due to high oil prices and a continuous decrease in demand due to global inflation.
The market is expected to remain in a difficult
position in the fourth quarter due to continued sluggish global demand and increased supply.
However, taking the second half of this year as the node, it is expected that the market will recover
after that.
position in the fourth quarter due to continued sluggish global demand and increased supply.
However, taking the second half of this year as the node, it is expected that the market will recover
after that.
Cutting-edge materials
Sales: 2.
5822 trillion won
5822 trillion won
Operating profit: KRW 415.
8 billion
8 billion
Sales continued to increase due to
increased shipments of battery materials and rising selling prices.
Even as the IT/semiconductor front-end market deteriorates, the proportion of cathode materials business and profitability continue to grow
.
increased shipments of battery materials and rising selling prices.
Even as the IT/semiconductor front-end market deteriorates, the proportion of cathode materials business and profitability continue to grow
.
Sales of cathode materials are expected to decline in the fourth quarter due to
lower metal prices.
However, with the increase in stable shipments, sales are expected to continue their growth trend
.
lower metal prices.
However, with the increase in stable shipments, sales are expected to continue their growth trend
.
Life Sciences
Sales: KRW 225.
2 billion
2 billion
Operating profit: KRW 5.
8 billion
8 billion
Although sales of major products such as growth hormone and Eucept continued to grow, profitability declined
due to the delay in the recovery of the aesthetic medicine business in China and the increase in R&D expenses.
due to the delay in the recovery of the aesthetic medicine business in China and the increase in R&D expenses.
Sales are expected to increase in the fourth quarter as shipments of major products such as vaccines and growth hormone expand, and R&D investment in clinical trials of new drugs is expected to increase globally
.
.
LG Energy Solution
Sales: 7.
6482 trillion won
6482 trillion won
Operating profit: KRW 521.
9 billion
9 billion
With the improvement of customer demand in Europe and North America, electric vehicle battery shipments increased, and the highest quarterly sales
were achieved in the third quarter.
Profitability also improved
due to higher selling prices due to higher metal prices.
were achieved in the third quarter.
Profitability also improved
due to higher selling prices due to higher metal prices.
In the fourth quarter, the company plans to accelerate business expansion, mainly in the rapidly growing North American market
, mainly through the expansion of production capacity in North America and the construction of smart factories.
, mainly through the expansion of production capacity in North America and the construction of smart factories.
Farm Hannong
Sales: KRW 156.
6 billion
6 billion
Operating loss: KRW 3.
4 billion
4 billion
Sales and profitability improved
year-on-year due to increased exports of crop protection agents such as Terrad'or and global sales growth.
year-on-year due to increased exports of crop protection agents such as Terrad'or and global sales growth.
Annual sales and profitability are expected to continue to improve in the fourth quarter due to
the expansion of overseas sales of crop protection agents and specialty fertilizer sales.
the expansion of overseas sales of crop protection agents and specialty fertilizer sales.
Original: LG Chem announced its results for the third quarter of 2022
