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LG Electronics Incorporated (LGE) reported its 1Q 2023 consolidated results on 27 April 2023, showing sales of KRW 20,415.9 billion, operating income of KRW 1,497.4 billion, and net income of KRW 546.5 billion. The company noted that sales and operating income were restated in accordance with K-IFRS due to the Solar panel business closure at the end of June 2022, and these preliminary figures are unaudited and subject to change.
| Date | 27 Apr 2023 |
| Time | 07:17:57 |
| Category | Results |
| ID | 6824X |
1Q 2023 Results Report
|
LGE Consolidated, K-IFRS |
(Billions of KRW) |
||
|
|
2023 1Q |
2022 4Q |
2022 1Q |
|
Sales |
20,415.9 |
21,857.5 |
20,969.0 |
|
Gross Profit |
5,169.9 |
4,234.0 |
5,950.5 |
|
Operating Income |
1,497.4 |
69.3 |
1,942.9 |
|
Net Income before Tax |
933.7 |
-566.3 |
2,066.0 |
|
Net Income |
546.5 |
-212.4 |
1,401.0 |
With the official closure of Solar panel business at the end of June 2022, the Group presented related gains and losses in discontinued operations. Sales and Operating Income above were restated in accordance with K-IFRS.
l All information regarding the financial results of LG Electronics during the 1st quarter of 2023 as contained herein has been prepared on a consolidated basis in accordance with International Financial Reporting Standards ("IFRS").
l The information regarding results of the 1st quarter of 2023 has been prepared in advance, prior to being reviewed by outside auditors, solely for the convenience of investors of the Company, and is subject to change in the process of final review by outside auditors. Please see other notes and disclaimers at our website.