LG: revenues of 54.4 billion dollar in 2018

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LG Electronics announced revenues of KRW 61.3 trillion (USD 54.4 billion) in 2018. Full-year profit of KRW 2.70 trillion (USD 2.40 billion) increased nearly 10 percent from 2017 reflecting record profitability from appliances and home entertainment products. Fourth-quarter 2018 revenues of KRW 15.77 trillion (USD 13.99 billion) were higher than the third quarter but 7 percent lower than the last quarter of 2017 primarily due to lower sales of mobile products. As a result, fourth-quarter operating income declined to KRW 75.7 billion (USD 67.1 million). The LG Home Appliance & Air Solution Company reported full-year 2018 revenues of KRW 19.36 trillion (USD 17.17 billion), an increase of nearly 5 percent from the previous year, generating a profit of KRW 1.52 trillion (USD 1.35 billion), the highest in the company’s history. Fourth-quarter revenues of 4.33 trillion (USD 3.84 billion) increased more than 3 percent from the same period last year with sales in Asia and Europe holding steady despite exchange rate challenges in Central and South America and political uncertainty in the Middle East. LG’s strongest performing unit in 2018 is expected to again lead the company this year with strong demand for premium products and consistent growth in South Korea while working to mitigate international trade and exchange rate risks overseas.

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