[TechWeb] April 7th news, according to foreign media reports, with the development of electric vehicles, the demand for batteries has increased significantly, Ningde Times, LG New Energy, SK On, Samsung SDI and other battery manufacturers have also ushered in new development opportunities, they have increased investment in electric vehicle battery research and production to meet the needs of automobile manufacturers.
However, while the development of electric vehicles brings development opportunities to battery manufacturers, it has also become a factor affecting their performance, and the slowdown in electric vehicle sales will lead to a slowdown or even decline in their revenue growth.
According to foreign media reports, LG New Energy, a battery manufacturer owned by LG, expects its revenue and operating profit to decline in the first quarter compared with the same period last year due to the slowdown in electric vehicle sales.
According to foreign media reports, LG New Energy is expected to generate 6.
13 trillion won in revenue and 157.
3 billion won in operating profit in the first quarter, equivalent to about US $4.
536 billion and US $116 million respectively.
LG New Energy reported on April 26 last year that it had revenue of 8.
7 trillion won and operating profit of 633 billion won in the first quarter of 2023.
They expect revenue of 6.
13 trillion won in the first quarter of this year, down 30% from a year earlier, and operating profit of 157.
3 billion won is less than 30% of that in the same period last year.
In the past four quarters, the results of LG New Energy have been released in the last ten days of the month after the end of each quarter, and the first quarter of this year is expected to be no exception.
The final results of the first quarter will be announced after the results are released.
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