LG Energy Solution said in a filing on Jan. 9 that it provisionally recorded an operating loss of 122 billion won in the fourth quarter last year.
The deficit narrowed from the same period a year earlier (an operating loss of 225.5 billion won). However, compared with the third quarter last year (an operating profit of 601.3 billion won), it swung to a loss.
The amount of the Advanced Manufacturing Production Credit (AMPC) reflected in this result was 332.8 billion won, and excluding this, the fourth-quarter operating loss was 454.8 billion won.
Fourth-quarter revenue was 6.1415 trillion won, down 4.8% from the same period a year earlier.
Full-year revenue last year was 23.6718 trillion won, down 7.6% from a year earlier, while operating profit was 1.3461 trillion won, up 133.9%.
LG Energy Solution plans to hold a conference call on the 29th to discuss fourth-quarter earnings.