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Daily News

LG Appliances 4Q Sales Flat
Feb 18, 2013
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LG Home Appliance Company fourth quarter sales were almost flat compared to 4Q 2011. LG Home Appliance Company had 4Q 2012 sales of KRW 2.94 trillion (approx. $2.7 billion). The appliance business had strong 4Q sales in the United States and CIS countries, largely offset by sluggish demand in Europe, the Middle East, and Latin America.

Appliance profitability in the quarter was affected by unfavorable exchange rates and higher marketing costs, even as average selling prices for LG home appliances were up in the quarter.

The company plans to improve its revenue and profitability in 2013 with more competitive products, advanced technologies, and a stronger focus on profitable regions.

LG Air Conditioning & Energy Solutions Company reported sales of KRW 683 billion (approx. $626 million) in 4Q 2012, essentially unchanged from 4Q 2011. An operating loss of KRW 11 billion (approx. $10.08 million) in 4Q 2012 was an improvement from 4Q 2011 and was credited to better operational efficiencies.

For full-year 2012, LG Air Conditioning & Energy Solutions Company had revenues of KRW 4.35 trillion (approx. $3.86 billion) and operating profit of KRW 156 billion (approx. $138.42 million).

In 2013 LG Air Conditioning will focus on the introduction of more energy-efficient and localized products to bolster revenue growth.

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