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Press release

LG: Recorded the highest revenue and operating profit in the history of the company.

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Η LG Electronics (LG) announced consolidated revenue for the first quarter of 2021, amounting to KRW 18,81 trillion (USD 16,90 billion).


Τa operating profit KRW 1,52 trillion (USD 1,36 billion) are the highest quarterly results in the history of the company with operating profit at 8,1% to record for the first quarter.

Compared to the same period last year, operating income improved by 27,7% and profitability increased by 39,1%, reflecting the rapidly growing demand for its home appliances and home entertainment products Greetings, as consumers around the world continue to spend more time at home.

Η LG Home Appliance & Air Solution Company recorded revenue of amount 6,71 trillion KRW (USD 6,03 billion) for the first quarter with an increase 23,8% from the previous year, while operating profit of 919.90 billion KRW (USD 826,39 million) it was 22,1% higher than in the first quarter of last year.

For the second consecutive quarter, the home appliance business grew significantly on an annual basis in North America and Europe, as well as in the domestic market of South Korea. Profitability was accompanied by the steady growth of strong sales of premium products in North America and Europe. The business unit is expected to continue to grow by expanding overseas sales to new products.

Η lg home entertainment company presented a revenue record of 4,01 trillion. KRW (USD 3,60 billion) for the first quarter, with 34,9% increase over the same period last year. Operating income increased by 23,9% compared to the same period last year at KRW 403,80 billion (USD 362.75 million), as a result of strong sales in North America and Europe.

Premium products, such as televisions OLED and NanoCell continued to be in high demand as the pandemic phenomenon continued in most of the world. To maintain this success the 2021The LG will continue to improve its premium product line, expand its online sales, but also make the best use of its resources and asset management.

Η LG Mobile Communications Company recorded sales of KRW 998,70 billion in the first quarter (USD 897,18 million), with operating losses of KRW 280,10 billion (USD 251,63 million).

Operational losses worsened by 28% Compared to the same period last year, due to the lack of new products in the light of the public announcement last month regarding the withdrawal of the company from the smartphone market at the end of July. The gains and losses for the shutdown will be included in the results of the second quarter.

Η LG Vehicle Component Solutions Company presented first quarter revenue of KRW 1,89 trillion (USD 1,70 billion), with increase 43,5% from the same period last year.

Operating losses were reduced to KRW 700 million (629.000 USD) as a result of the recovery of the automotive sector in North America and Europe, as well as the increase in revenues from new projects in the fields of e-Powertrain and infotainment and better cost management.

Η LG Business Solutions Company realized improved sales of KRW 1,86 trillion in the first quarter (USD 1,67 billion), presenting increase 9,1% from year to year and 23,6% higher than the previous quarter, thanks to increased sales of products such as computer monitors and products PC in the age of distance work and e-learning.

Operating profit of KRW 134 billion (USD 120,38 million) decreased compared to the corresponding period of the previous year due to the rising cost of components such as LCD panels and semiconductors.

Quarter 2021 Clarifications on the exchange rate

Its unaudited accounting statements LG Electronics for the quarterly period up to March 31, 2021, have been prepared in accordance with international accounting standards (IFRS). Amounts in Korean Won (KRW) are translated into US Dollars based on average for each quarter: KRW 1,113.16 per USD.

Press Release

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