LG Energy Solution publishes financial results for 2024. Investing.com

• LG energy solution posts 25.6 trillion krw in a consolidated income and 575.4 billion Krw In Operational profit in 2024
• The company should focus on proactive response to market volatility in the short term and ensuring fundamental competitiveness in the medium and long -term period
• This year’s guidelines envisage an increase in annual revenue of 5-10 percent annually, with the expected reduction of capital expenditures by 20-30 percent compared to last year

Seoul, South KoreaWho,, January 24, 2025 / Prnewire/ – – LG energy solution (Krx: 373220) Today has announced its earnings for the fourth quarter and the whole year for 2024, together with its key business initiatives for 2025.

For the whole year, the company reported 25.6 trillion krw in a consolidated income and 575.4 billion Krw Operational profits, which is annually less by 24.1 percent, or 73.4 percent. The operating profit margin was 2.2 percent, including the IRA tax loan effect.

“Last year we actively responded to the demand for electric vehicles in North America“He said Chang Sil LeeFinancial director of the company LG energy solution. “At the same time, sales in Europe It decreased due to the slow growth of the electric vehicle market, while the average sales price (ASP) also dropped due to continuous influence on metal prices, which led to a decrease in our revenues throughout the year. “

“Although the lower utilization rate led to an increase in fixed costs and lower profitability, we saw the constant improvements of material costs last year,” Lee said.

2024. LG energy solution launched a stable mass production of its new common drives in OURWho,, Canadaand Indonesiaand achieved a record high yield, ensuring the abilities for stable global business. As for business vehicles, the company successfully expanded its product line with new chemical compositions and factors of shape, and also expanded your ESS business by accelerating the takeover of large electric network projects in North America.

Last year was a year of technological progress for LG energy solutionWhile preparing for the mass production of his cylindrical 46 series batteries and a pilot production line for dry electrodes in Ochango, Korea. In addition, the company provided high quality critical minerals and LFP aligned with IRA^[1] Cathode materials by taking various proactive measures, such as investing in a lithium mining company.

In the fourth quarter, the company published a consolidated revenue from 6,4512 trillion krwwhich is a drop of 6.2 percent compared to the previous quarter. His three -month operational loss was 225.5 billion Krwincluding the estimated amount of IRA tax credit from 377.3 billion Krw.

The global battery market, which includes EV, ESS and IT sectors, is expected to increase by more than 20 percent^[2] Starting in 2025 annually.

As for the electric vehicle market, the company expects that its advantages of the first initiator in the North American Battery market will continue to spread, encouraged by the growing trend of protectionism. At the same time, it is expected that the increasing volatility of green policies in major countries will in the short term slow down the growth of demand for electric vehicles.

As for the ESS market, LG energy solution It provides for a growing need for regional renewable energy infrastructure thanks to the growing importance of energy security. The company also expects the demand for electricity demand due to expanding the data centers guided by artificial intelligence and predicts that the providing local batteries supply will become increasingly critical in response to multiple battery tariffs from China It should take effect in 2026.

• Key Business Initiatives 2025

In the short term, LG energy solution will focus on a proactive response to market volatility. The company will strengthen its financial stability by adjusting the dynamics of investment in the construction of new facilities and giving priorities to the realization of critical investments. At the same time, they will maximize its existing capacity to process new orders for LFP and high -voltage midfielder of the middle nickel on inactive production lines within the existing plants. The company will also improve its operational compatibility in all production plants, namely the diversification of the factors of the form within each drive and the converting of the production lines between the EV and ESS battery to respond proactively to local customers.

Medium and long -term, LG energy solution will continue their efforts to strengthen your fundamental competitiveness. It will ensure a competitive advantage in products by offering optimized solutions for each electric vehicle segment and further differentiate their LFP Battery Batteries for ESS systems. The company will also focus on improving product quality by promoting its BMS^[3] Diagnostic technology and quality management system based on artificial intelligence.

Insurance of the competitiveness of structural costs is another long -term initiative. As part of this, the company will expand the use of cost -effective materials, promote investments in ascending companies and reduce the cost of processing the expansion of production. In order to prepare for the future, it will accelerate the commercialization of dry electrodes and lithium-sumpsal solids batteries by setting their pilot lines, while it will also expand business from hardware on the software by stimulating their BAAS^[4] and eaas^[5] companies.

Based on your key business initiatives for this year, LG energy solution She has published her goal of achieving a 5-10 percent of the inter-year-old annual consolidated revenue in 2025. Although she anticipates an unfavorable ASP due to the continuation of the low-priced metal prices, the company expects to launch mass production on the new plant in North America And increasing the delivery of new products will positively contribute to this year’s revenue growth.

The company also aims to reduce this year’s capital stake by 20-30 percent compared to last year, adjusting the tempo of investment and maximizing the utilization of existing locations. In addition, the estimated capacity that meets the IRA tax relief is expected to be about 45-50 GWH this year, since the company is in a good position to achieve its advantages of the first initiator in the region by launching operations in its new facilities and acceleration mass production of your ESS batterywith.

O lg energy solution

LG energy solution (Krx: 373220), separated from LG Chema, is the leading worldwide producer of lithium-ion batteries for electric vehicles, mobility, IT and energy storage systems. With 30 years of experience in revolutionary technology of batteries and extensive research and development (R&D), the company is the largest patent patent holder in the world with more than 58,000 patents. Its strong global network, which includes North America, Europe and AsiaIncludes the production of batteries established through joint investments with large car manufacturers. Handed over to the construction of a sustainable ecosystem of batteries, LG energy solution It aims to achieve carbon neutrality throughout the chain of value by 2050, at the same time embodying the value of common growth and promoting a variety and inclusive corporate culture. To find out more about LG Energy solutions Ideas and innovations, visit https://news.lgensol.com.