LG RELEASES PRELIMINARY EARNINGS FOR FOURTH-QUARTER 2020

 LG Electronics Inc. (LG) today announced its preliminary earnings results for the fourth quarter and full-year of 2020.

LG reported revenues of KRW 18.8 trillion in the fourth quarter of 2020 with an operating profit of KRW 647 billion, 536 percent higher than the same quarter the previous year. Both sales and operating profit are the highest ever reported for a fourth quarter in LG’s history.

Record full-year sales of KRW 63.3 trillion marked the fourth consecutive year in which revenues exceeded KRW 60 trillion. Operating profit for the year is expected to be KRW 3.2 trillion, setting another LG record, an increase of 31 percent over 2019.

These figures are the tentative consolidated earnings based on K-IFRS provided as a service to investors prior to LG Electronics’ final earnings results including net profit. Details regarding each division which will be announced officially later this month.