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LG Chem Announces 2022 First Quarter Results, Sales Hit Record High

 Last Update: 2022-05-21
 Source: Internet
 Author: User

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[ Star Enterprise of Chemical Machinery and Equipment Network ] At present, LG Chem has released the first quarter results of 2022
.
Cha Dong-seok, CFO of LG Chem, said, "We achieved the highest quarterly sales and operating profit of KRW 1 trillion by restructuring our product portfolio centered on high-value-added products and strengthening our product competitiveness in a difficult operating environment.

.
” He also pointed out, “Sales are expected to continue to grow in the second quarter, and we will strive to improve operational efficiency by reducing costs, enhancing product competitiveness, and improving customer satisfaction to ensure strong profits
.
”

Chemical Machinery Equipment Net Star Enterprise Chemical Machinery Equipment

first quarter results

Sales: 11.
6081 trillion won

Operating profit: 1.
0243 trillion won

Compared to the previous quarter, sales rose 6.
0% and operating profit rose 36.
9%
.

Compared with the same period last year, sales rose 20.
4%, but operating profit fell 27.
3%
.

petrochemical

Sales of 5.
9635 trillion won

　　Operating profit of KRW 634.
6 billion

　　Despite the severe external environment such as rising costs and China's epidemic lockdown, the Company achieved the highest quarterly sales and considerable profits with its differentiated high-quality product portfolio such as POE for photovoltaic films and SAP for diapers
.

　　The operating environment is expected to remain difficult due to high oil prices and stagnant demand in the second quarter, but the company will continue to maintain sales and operating profit growth by expanding business activities, focusing on high value-added products
.

　　cutting edge material

　　Sales of 1.
5680 trillion won

　　Operating profit of KRW 153.
8 billion

　　Profitability has improved with the increase in shipments of high-end products such as high-nickel cathode materials, OLED materials, and semiconductor materials
.

　　With the increase in shipments centered on battery materials and the optimization and upgrading of high-end products, sales in the second quarter are expected to continue to grow
.

　　life sciences

　　Sales of KRW 217.
4 billion

　　Operating profit of KRW 32.
2 billion

　　Both sales and profitability improved compared to the same period last year as sales of key products such as diabetes treatment and growth hormone continued to expand
.

　　Sales are expected to remain firm in the second quarter as market share for key products such as diabetes treatments expands
.

　　LG New Energy

　　Sales of 4.
3423 trillion won

　　Operating profit of KRW 258.
9 billion

　　Improved profitability compared to the previous quarter by expanding metal linkage agreements, adjusting prices and automating processes
.

　　Although the second quarter is expected to be affected by uncertainties such as semiconductor supply and demand and geopolitical risks, sales from major customers are expected to expand
.

　　Farm Hannong

　　Sales of KRW 260.
8 billion

　　Operating profit of KRW 40.
8 billion

　　Both sales and profitability improved compared to the same period last year, as exports and sales of crop protection agents such as Terrad'or increased
.

　　Sales and profitability are expected to improve in the second quarter, thanks to the expansion of the overseas crop protection agent business and the high-value-added transformation of the seed business
.

　　Original title: LG Chem releases 2022 first quarter results, sales hit record high again

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