LG Chem Half-Year Report 2024

Highlights

• Petrochemicals
• Despite strong raw material prices, the turnaround in profitability due to an increase in shipments of major products driven by the seasonality of the front industry.
• Advanced Materials
• Despite concerns about slowing EV growth, sales and profitability improved driven by increased battery material shipments
• Improved overall advanced materials business profitability by increasing the proportion of value-added products
• Life Sciences
• Temporary increase in sales/profit due to recognition of upfront license-out fees for orphan drug for obesity, and increased sales of key products such as diabetes and vaccines.
• Farm Hannong
• Overseas sales of crop protection products continued to expand, however profitability weakened on YoY due to decline in fertilizer ASP}
• Energy Solution
• Despite the continued impact on sales prices due to falling metal prices, sales and AMPC increased due to increased volume following the launch of new EVs for North American customers