LG Innotek surpassed 21 trillion won in revenue last year, setting a record for its highest annual sales.
LG Innotek announced on the 17th through a disclosure regarding changes in revenue or profit structure of over 15% that it recorded 21.2008 trillion won in revenue and 706 billion won in operating profit last year.
Due to the expansion of high value-added product supply, revenue increased by 2.9% compared to the previous year, marking the highest ever. However, the recovery of demand in Chonbang industries like electric vehicles and displays is delayed, and competition in the optical business intensified, leading to a 15% decrease in operating profit compared to the previous year.
This is based on the pre-audit consolidated financial statements and may change during future accounting audits. LG Innotek is scheduled to announce its fourth-quarter performance and results by business division on the 22nd.