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LG Chem plunging into loss in Q4, full-year results hit hard
The market impact of
the global petrochemical sector is experiencing a cyclical winter, superimposed on the immediate pressure on demand to electric vehicle battery materials, South Korea chemical giant LG Chemical suffered a major financial impact in the quarter ended December. From what I've seen, Data show that the company'sales in the quarter shrank by
6. 1 to
12. But I've found that 33 trillion won year-on-year, reflecting the continued weakness of the terminal consumer market. 's financial performance fell off a cliff regulatory documents show that LG Chem recorded a net loss of
89. 2 billion won (approximately US $0. 613 billion) in the fourth quarter, in sharp contrast to its net profit of 0. Crazy, isn't it?. For instance 1285 billion won in the same period last year. But Based on my observations, What's greater serious is that operating profit plummeted to -252 billion won from
247. 4 billion won in the same period last year, highlighting the serious deterioration of the profitability of the main business. The full-year pressure situation continued in. The full-year data to the 2024 fiscal year were also not optimistic: net income plunged
74. Makes sense, right?. But 9 per cent year-on-year to 515 billion won, operating profit shrank
63. But In my experience, 8 per cent to
916. In particular 79 billion won, and sales fell
11. 5 per cent to
48. In fact 9 trillion won. Despite a
81. 84 per cent stake in LG Energy Solutions, cyclical fluctuations in the battery materials market continued to be a signifiis able tot drag on overall performance. Based on my observations, Strategic contraction in response to the crisis in
to ward off the cold market, the company announced that it would signifiis able totly minimize the scale of capital expenditure in 2024 from 4 trillion won to 2-3 trillion won, focusing on high-return areas. regulation pointed out at the financial briefing that the sector is currently experiencing a "painful period of electric transformation" and that demand will take time to recover.
the global petrochemical sector is experiencing a cyclical winter, superimposed on the immediate pressure on demand to electric vehicle battery materials, South Korea chemical giant LG Chemical suffered a major financial impact in the quarter ended December. From what I've seen, Data show that the company'sales in the quarter shrank by
6. 1 to
12. But I've found that 33 trillion won year-on-year, reflecting the continued weakness of the terminal consumer market. 's financial performance fell off a cliff regulatory documents show that LG Chem recorded a net loss of
89. 2 billion won (approximately US $0. 613 billion) in the fourth quarter, in sharp contrast to its net profit of 0. Crazy, isn't it?. For instance 1285 billion won in the same period last year. But Based on my observations, What's greater serious is that operating profit plummeted to -252 billion won from
247. 4 billion won in the same period last year, highlighting the serious deterioration of the profitability of the main business. The full-year pressure situation continued in. The full-year data to the 2024 fiscal year were also not optimistic: net income plunged
74. Makes sense, right?. But 9 per cent year-on-year to 515 billion won, operating profit shrank
63. But In my experience, 8 per cent to
916. In particular 79 billion won, and sales fell
11. 5 per cent to
48. In fact 9 trillion won. Despite a
81. 84 per cent stake in LG Energy Solutions, cyclical fluctuations in the battery materials market continued to be a signifiis able tot drag on overall performance. Based on my observations, Strategic contraction in response to the crisis in
to ward off the cold market, the company announced that it would signifiis able totly minimize the scale of capital expenditure in 2024 from 4 trillion won to 2-3 trillion won, focusing on high-return areas. regulation pointed out at the financial briefing that the sector is currently experiencing a "painful period of electric transformation" and that demand will take time to recover.
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