Last quarter, LG managed to demonstrate a record high operating margin for the first quarter
LG Electronics published a report for the first quarter of 2020. The consolidated income of the South Korean manufacturer for the reporting quarter amounted to 12.45 billion dollars. The operating profit in the report is shown to be equal to 921.47 million dollars. Although revenue decreased slightly compared to the same period last year, operating profit increased by 21.1%. In a press release on the report, it was noted that the operating margin of 7.4% was the highest for the first quarter in LG history.
LG revenue in the first quarter of 2020 amounted to 12.45 billion dollars
LG Home Appliance & Air Solution delivers $ 4.58 billion in revenue. This indicator for the year has not changed much, which is explained by a decrease in global demand during the pandemic for household appliances as a whole while increasing sales of hygiene products, such as washing machines, dishwashers, and clothes care systems. The division’s operating profit for the year grew by 3.6%, to $ 66.8 million.
The revenue of LG Home Entertainment amounted to $ 2.51 billion, which is 4.8% less than the same period last year. The division’s operating profit was $ 275.32 million.
The LG Mobile Communications division reported a 34% decrease in sales to $ 843.9 million and a decrease in operating losses to $ 200.96 million.
LG Vehicle Component Solutions recorded revenue of $ 1.11 billion and an operating loss of $ 81.8 million.
LG Business Solutions has posted $ 1.44 billion in revenue and $ 179.3 million in operating profit.
