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LG ANNOUNCES THIRD-QUARTER 2019 FINANCIAL RESULTS

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LG ANNOUNCES THIRD-QUARTER 2019 FINANCIAL RESULTS

Highest Third-Quarter Sales in History, Best Profitability in Decade

SEOUL, Oct. 30, 2019 — LG Electronics Inc. (LG) announced record-breaking third-quarter consolidated revenues of KRW 15.7 trillion (USD 13.15 billion) and operating profit of KRW 781.4 billion (USD 654.4 million) for the July-September period. Sales increased 1.8 percent and operating income was 4.4 percent higher compared with the same period last year, primarily due to the strong performance of the home appliance, home entertainment and business solutions business units, while losses narrowed for mobile communications in the quarter.

The LG Home Appliance & Air Solution Companyreported its highest third-quarter sales of KRW 5.33 trillion (USD 4.46 billion),increasing nearly 10 percent from the same period last year thanks to strong performance in North America, Europe, Asia and the Middle East. Operating income of KRW 428.9 billion (USD 359.2 million) represented a 3.8 percent increase from the third quarter last year due to a combination of improved sales, ongoing cost reductions and lower raw material prices.

The LG Home Entertainment Company recorded quarterly revenues of KRW 3.87 trillion (USD 3.24 billion), an increase of 3.5 percent from the 2018 period, reflecting strong sales in Latin America and the Middle East. Although operating income of KRW 318 billion (USD 266.3 million) declined slightly from a year ago due to intense market competition and a weaker exchange rate, strong sales of premium products such as OLED TVs resulted in a healthy quarterly operating margin of 8.2 percent for the quarter.

The LG Mobile Communications Company reported sales of KRW 1.52 trillion (USD 1.27 billion) for the quarter in a challenging global smartphone market.Compared with the previous quarter, operating loss narrowed significantly to KRW 161.2 billion (USD 135 million) due to production efficiencies and cost improvements.

The LG Vehicle Component Solutions Company generated quarterly revenues of KRW 1.34 trillion (USD 1.12 billion), an increase of 14 percent from the third quarter last year thanks to increased sales in infotainment systems. Higher mass production setup costs related to new projects contributed to an operating loss of KRW 60.1 billion (USD 50.3 million) in the third quarter of 2019.

The LG Business Solutions Company reported sales in the third quarter of KRW 698.7 billion (USD 585.2 million), 21.2 percent higher than the same quarter last year due to stronger sales of information displays and solar modules in key markets. Operating income increased 90 percent year-on-year to KRW 66.8 billion (USD 55.9 million) as a result of improved productivity and higher sales.

2019 3Q Exchange Rates Explained

LG Electronics’ unaudited quarterly earnings results are based on IFRS (International Financial Reporting Standards) for the three-month period ending September30, 2019. Amounts in Korean won (KRW) are translated into U.S. dollars (USD) at the average rate of the three-month period of the corresponding quarter — KRW 1,194 per USD.

Earnings Conference and Conference Call

LG Electronics will hold an English language conference call on October 31, 2019 at 09:00 Korea Standard Time (00:00 GMT/UTC). Participants for the English conference call are instructed to call +82 31 810 3061 and enter the passcode 6418#. The corresponding presentation file will be available for download at the LG Electronics website (www.lg.com/global/ir/reports/earning-release.jsp) at approximately 16:00 on October 30, 2019. Visit http://pin.teletogether.com/eng and pre-register with the passcode provided. For those unable to participate, an audio recording of the news conference will be available for a period of 30 days after the conclusion of the call. To access the recording, dial +82 31 931 3100 and enter the passcode 142960# when prompted.

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About LG Electronics, Inc.

LG Electronics Inc. is a global innovator in technology and manufacturing with operations in 140 locations and a workforce of over 70,000 around the world. With 2018 global sales of USD 54.4 billion, LG is composed of five companies – Home Appliance & Air Solution, Home Entertainment, Mobile Communications, Vehicle Component Solutions and Business Solutions. LG is a world-leading producer of TVs, refrigerators, air conditioners, washing machines and mobile devices, including premium LG SIGNATURE and LG ThinQ products featuring artificial intelligence. For the latest LG news, go to www.LGnewsroom.com.

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Geelmuyden Kiese

Geelmuyden Kiese

Pressekontakt PR-kontakt

LG Electronics

LG Electronics er en global innovatør innen teknologi og forbrukerelektronikk, med tilstedeværelse i nesten alle land og en internasjonal arbeidsstyrke på over 74 000 personer. LGs fire selskaper – Home Appliance & Air Solution, Home Entertainment, Vehicle Component Solutions og Business Solutions – hadde samlet en global omsetning på over 80 billioner KRW i 2023. LG er en ledende produsent av forbruker- og kommersielle produkter, alt fra TV-er, hvitevarer, luftløsninger, skjermer, serviceroboter og bildeler. Premium-merkene LG SIGNATURE og intelligente LG ThinQ er kjente navn over hele verden. LG jobber kontinuerlig for å utvikle bærekraftige produkter som gjør livet enklere for forbrukere verden over. Som et bevis på dette arbeidet ble LG tildelt gullstatus i EcoVadis Sustainability Analysis for 2023. For mer informasjon og nyheter om LG Electronics, besøk www.LGnewsroom.com. Besøk www.LGnewsroom.com for de siste nyhetene.