LG Energy Solution-Q4 earnings
LG Energy Solution turns to black in Q4 on strong EV battery sales
SEOUL, Feb. 8 (Yonhap) -- LG Energy Solution Ltd. said Tuesday it swung to the black in the fourth quarter from a year earlier on the back of strong electric vehicle (EV) battery sales.
Net income came to 71.8 billion won (US$59.9 million) in the October-December period, compared with the 436.4 billion-won loss the previous year, South Korea's top battery maker said in a regulatory filing.
Operating profit reached 75.7 billion won, a turnaround from the 479.1 billion-won loss. Sales rose 1.9 percent to 4.4 trillion won in the same period.
For all of 2021, it booked a combined net profit of 929.8 billion won. The cumulative operating income reached 768.4 billion won, while the sales came in at 17.8 trillion won for the year.
The earnings results were released before the market opened.
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