LG Home Appliance 2013 Sales Up 5%
Jan 28, 2014
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LG Home Appliance Company full-year 2013 sales were up 5%.

LG Home Appliance fourth quarter sales were KRW 2.84 trillion (approx. US$2.67 billion), which was down 4% from the fourth quarter of 2012.

Stronger 4Q sales in North America and China were offset by slower growth in developing markets, including India and Central and South America.

Profitability in 4Q 2013 improved from the previous year, to KRW 83.40 billion (approx. $78.08 million), the result of improved cost structure and better sales of higher-margin products.

LG Air Conditioning & Energy Solutions Company reported sales of KRW 719.70 billion (approx. $677.33 million) in 4Q 2013, up 8% from 4Q 2012, primarily from the growth of commercial air-conditioner system sales.

LG Air Conditioning & Energy Solutions in full-year 2013 reported revenues of KRW 4.64 trillion (approx. $4.24 billion), up 8% from the previous year. Operating profit was KRW 279.50 billion (approx. $255.71 million). Demand for commercial air-conditioners with high energy efficiency and inverter-type residential units are expected to help drive further profitability improvements for LG in 2014.

Parent company LG Electronics had 2013 consolidated revenues of KRW 58.14 trillion (approx. US$53.10 billion) and net profit of KRW 222.70 billion (approx. $203.65 million), both improved from 2012.

Operating profits were up slightly to KRW 1.28 trillion (approx. $1.17 billion) from KRW 1.22 trillion (approx. $1.08 billion) in full-year 2012.

Fourth-quarter 2013 consolidated revenues were KRW 14.92 trillion (approx. $14.03 billion) with an operating profit of KRW 238.1 billion (approx. $223.89 million). Unaudited consolidated financial results for 4Q 2013, which ended Dec. 31, 2013, showed a net loss of KRW 63.5 billion (approx. $60.21 million) primarily from currency movements.

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