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LG Chem released its 2020 annual performance report, and its key financial data are as follows:
Sales of US$25.
47 billion, a year-on-year increase of 9.
9%
Operating profit of US$1.
99 billion, an increase of 185.
1% year-on-year
LG Chem CFO Cha Dong-seok said, "Even with the impact of the COVID-19 pandemic, the company's annual sales increased by 10% year-on-year, surpassing KRW 30 trillion, or about US$25.
47 billion for the first time, and EBITDA also hit a record high of US$3.
9 billion.
Therefore, 2020 is a very meaningful year for LG Chem in terms of sales growth and profit growth
.
2021 target sales of $31.
6 billion
6 billion
LG Chem's 2021 target sales of $31.
6 billion will increase by 24.
1% year-on-year
.
Strategic direction of each business area
Strategic direction of each business areaPetrochemical
While the new supply in Northeast Asia will raise certain concerns, demand from major industries will gradually improve as the global economy gradually recovers
.
cutting edge material
As the demand in frontier markets such as batteries, OLED, and IT continues to expand, LG Chem will focus on cultivating high-nickel battery materials, while actively promoting the research and development of battery materials such as negative electrode adhesives and heat-resistant adhesives
.
life sciences
With the opening of new products such as Eupolio (polio vaccine) to UNICEF and the expansion of existing businesses such as YVOIRE, sales growth is expected to exceed 10% in 2021
.
new energy
Affected by the automobile environmental protection policies of major countries in the world, the electric vehicle market is expected to show a continuous growth trend, and the energy storage system market centered on large power grids will also continue to expand
.
