LG Chem Q1 Report 2024

LG Chem had a lower performance on its first Quarter compared to the prior year.

Highlights

• Petrochemicals
• Despite geopolitical risks imposing upward pressures on raw material costs, losses narrowed on positive lagging effect from naphtha and sustained cost saving efforts
• Advanced Materials
• Improvement on sales and profitability of battery material business driven by sizable shipment increases Share of value-added products expanded for overall business
• Life sciences
• Steady sales of flagship products including diabetes and growth hormone products drove marginal increase in YoY sales
• R&D spending displayed an uptick on the back of global clinical trials
• Farm Hannong
• Sales dipped YoY due to a decline in fertilizer ASP, while profitability improved on overseas expansion of crop protection products and higher ASP