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LG announces first-quarter 2012 financial results
In the Black, Company Reports Significant Improvement by Focusing on Higher Margins and Efficient Operation
Unaudited consolidated financial results, based on IFRS (International Financial Reporting Standards) for the quarter ending March 31, 2012, showed consolidated revenues of KRW 12.2 trillion (USD 10.8 billion) with an operating profit of KRW 448 billion (USD 396.1 million). This compares favorably to the consolidated operating profit of KRW 280 billion for all of 2011.
LG Home Entertainment Company posted significantly improved operating profit in the quarter, compared with the same period a year ago. Sales, while strong at KRW 5.3 trillion (USD 4.7 billion),declined by 6.8 percent compared with the first-quarter of 2011, largely due to the asluggish European economy. Due in large part to the popularity of new products such as CINEMA SCREEN 3D Smart TV in the Korean market and improvements in supply chain management, operating profit nearly doubled to 217 billion (USD 191.9 million) from the same period the previous year. LG will leverageupcoming big ticket sporting events and the global roll-out of LG’s redesigned 2012 TV modelsto stimulate higher demand for its Home Entertainment products.
LG Mobile Communications Company saw operating profit more than triple quarter-over-
LG Home Appliance Company’sfirst-
LG AirConditioning and Energy Solution Company saw operating profit more than double from the same period last year to KRW 81 billion (USD 71.6 million) thanks to new high-end products and cost structure improvements. First-quarter revenues were essentially flat, declining 1.2 percent year-over-year to KRW 1.2 trillion (USD 1.1 billion). LG is optimistic that government policies to promote the usage of energy-efficient products in homes and businesses will create new growth opportunities for the company, along with highly efficient commercial air conditioners.
20121Q Exchange Rates Explained
LG Electronics unaudited earnings resultsare based on IFRS and amounts in Korean Won (KRW) are translated into US Dollars (USD) at the averagerate of the three month period in each corresponding quarter: KRW 1,131 per USD(2012 1Q) and KRW 1,121 per USD (2011 1Q).
Earnings Conference and Conference Call
LG Electronics will hold a Korean language earnings news conference on April25, 2012 at 16:00 Korea Standard Time at the LG Twin Tower Auditorium (B1 East Tower, 20 Yeoui-daero, Yeongdeungpo-
For further information, please contact:
Pencell Public Relations
Phone: 02 2834067
Fax: 02 2834050
About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances. With 117operations around the world, LG achieved global sales of USD 49 billion (KRW 54.26 trillion) in 2011. LG is comprised of four business units – Home Entertainment, Mobile Communications, Home Appliance, and Air Conditioning & Energy Solutions – and is one of the world’s leading producers of flat panel TVs, mobile devices, air conditioners, washing machines and refrigerators. For more news and information on LG Electronics, please visit www.LGnewsroom.com.