LG Chem plunging into loss in Q4, full-year results hit hard

LG Chemical was hit by a double whammy of the petrochemical cycle and shrinking demand for battery materials, turning a profit into a loss in the fourth quarter and a precipitous decline in full-year results, with the company announcing a sharp cut in capital spending to cope with the market winter.

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.

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LG Chem plunging into loss in Q4, full-year results hit hard

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