LG Electronics’ comprehensive revenue in 2023 reached a record high of 84 trillion won, and Q4 operating profit increased 350.9% year-on-year to 312.5 billion won

LG Electronics today released preliminary financial reports for the fourth quarter and full year of 2023. Considering the current macroeconomic situation, this data shows a satisfactory performance.

According to data, LG Electronics’ sales in the fourth quarter of last year were 23,156.7 billion won, a month-on-month increase of 11.8% and a year-on-year increase of 5.9%. Operating profit was 312.5 billion won, a month-on-month decrease of 68.6% and a year-on-year increase of 350.9%.

In 2023, LG Electronics’ annual comprehensive revenue reached 84.2804 billion won (approximately 458.485 billion yuan), which set a new historical record and increased by 1.0% year-on-year. In addition, their annual operating profit was 3.5485 billion won (approximately 19.304 billion yuan), a slight decrease compared with last year, a decrease of 0.1%.

LG Electronics said its consolidated revenue hit another record high, thanks to the strong fundamentals of the company’s core business and the growth of its B2B business. Over the past three years, LG Electronics' revenue has grown at a compound annual growth rate (CAGR) of more than 13%.

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