2021 2Q Pre-earnings Guidance

RNS Announcement

RNS Number : 4290E

LG Electronics Incorporated

07 July 2021

LG ELECTRONICS INC.

(KRX: 066570)

PRE-EARNINGS GUIDANCE FOR 2Q 2021

(UNAUDITED OPERATING STATISTICS)

LG Electronics Inc. (the ''Company'') is pleased to announce certain unaudited operating statistics of the Company and its subsidiaries (the ''Group'') for the second quarter of 2021 as follows.

In the second quarter of 2021, the Group's consolidated sales amounted to KRW 17,110.1 billion (as compared to KRW 17,812.4 billion in 2021.1Q and KRW 11,528.8 billion in 2020.2Q), representing a quarter-on-quarter decrease of 3.9% (QoQ -3.9%) and a year-on-year increase of 48.4% (YoY 48.4%).

The Group's consolidated operating income amounted to KRW 1,112.8 billion (as compared to KRW 1,767.3 billion in 2021.1Q and KRW 672.2 billion in 2020.2Q), representing a quarter-on-quarter decrease of 37.0 % (QoQ -37.0%) and a year-on-year increase of 65.5% (YoY 65.5%).

(Billions of KRW)			LGE Consolidated, K-IFRS
	2021.2Q	2021.1Q	QoQ(%)	2020.2Q	YoY(%)
Sales	17,110.1	17,812.4	-3.9%	11,528.8	48.4%
Operating Income (Loss)	1,112.8	1,767.3	-37.0%	672.2	65.5%

With the official closure of the LG Mobile Communications Company at the end of the month, the unit's earnings will not be reflected in this quarter's earnings report and will be treated as discontinued operating losses. Earnings for the first quarter of 2021 will also be adjusted to reflect this change, to KRW 17.8 trillion in revenues and KRW 1.8 trillion in operating profit.

The above-mentioned sales data is unaudited and is based on preliminary internal information of the Group, which may differ from figures to be disclosed in the audited or unaudited consolidated financial statements to be published by the Company. Further details of the Group's performance will be disclosed when the Company announces its financial results for 2Q 2021. The above data is provided for investors' reference only. When in doubt, investors are advised to seek professional advice from professional or financial advisers.

LG Electronics Inc.
IR Planning Team
7 July, 2021

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RNS metadata

Title: 2021 2Q Pre-earnings Guidance
Time: 07:44:54
Date: 7 Jul 2021
Category: Miscellaneous
ID: 4290E