LG Chem, Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 02:00 pm IST
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LG Chem, Ltd. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was KRW 14,177,663 million compared to KRW 10,597,533 million a year ago. Net income was KRW 614,372 million compared to KRW 610,128 million a year ago. Basic earnings per share from continuing operations was KRW 7,485 compared to KRW 8,105 a year ago. Basic earnings per share was KRW 7,885 compared to KRW 7,832 a year ago.
For the nine months, sales was KRW 38,012,574 million compared to KRW 31,664,720 million a year ago. Net income was KRW 1,961,887 million compared to KRW 3,407,102 million a year ago. Basic earnings per share from continuing operations was KRW 24,779 compared to KRW 39,817 a year ago. Basic earnings per share was KRW 25,179 compared to KRW 43,739 a year ago.
LG Chem Ltd is a Korea-based company principally engaged in the manufacture of petrochemical materials. The Company operates its business through five segments. The Petrochemistry Business segment is mainly engaged in the manufacture of basic materials which are mainly used for petrochemical industry, and the products include polyvinyl chloride (PVC) resins, low-density polyethylene (LDPE), poly styrene (PS), and acrylonitrile butadiene styrene (ABS). The Battery Business segment mainly engages in the manufacture of rechargeable batteries for mobile phone, automobile and storage batteries. The Advanced Materials Business segment mainly manufactures optical materials for manufacturing polarizers, and electronic materials including liquid crystal display (LCD) materials and cathode materials. The Life Science Business segment engages in the bio pharmaceutical business. The Common and Other segment manufactures and sells crop protection agents, fertilizers and seeds.