Results of Q2 2023 In the end of July, 2023, South Korean battery manufacturers announced its quarterly financial result, which is between April and June 2023. They are LG Energy […]
In the end of July, 2023, South Korean battery manufacturers announced its quarterly financial result, which is between April and June 2023. They are LG Energy Solution, SK on and Samsung SDI.
We see the results of LG Energy Solution first. Its sales revenue in the second quarter of 2023 was 8.77 trillion KRW (about 6.84 billion USD). This number was increased by 73%, compared to the same period of 2022. Its operating profit in the second quarter of 2023 was 461 billion KRW (about 360 million USD). This number was increased by 140%, compared to the same period of 2022. LG Energy Solution are working with several automotive manufacturers including General Motors. Therefore, these collaborations work for this positive results.
When it comes to SK on, its sales revenue in the second quarter of 2023 was 3.70 trillion KRW (about 2.89 billion USD). This number was increased by 190%, compared to the same period of 2022. SK on made a loss, which was 1.315 billion KRW (about 1.02 million USD) in the second quarter of 2023. However, SK on reduced the amount of loss by about 2 billion KRW. Therefore, its financial results were good, even though it still made a loss.
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