LG Electronics announced third-quarter 2021 consolidated revenues of KRW 18.79 trillion (USD 16.23 billion), an increase of 22 percent from the same quarter last year. Profitability also was strong in the quarter but was partially offset by a one-time charge. Operating profit of KRW 540.7 billion (USD 466.99 million) was 49.6 percent lower than the third quarter the previous year, reflecting a provision of KRW 480 billion (USD 415 million). The LG Home Appliance & Air Solution Company posted third-quarter 2021 revenues of KRW 7.06 trillion (USD 6.1 billion) with operating profit of KRW 505.4 billion (USD 436.51 million). “Sales increased 14.7 percent from the same quarter last year, exceeding KRW 7 trillion for the first time on the back of strong growth in the Americas and Europe – the company explains -. Product competitiveness and operational efficiencies are expected to help LG maintain growth momentum although at a slower pace due to increasing raw material costs”.
