LG Innotek's third-quarter consolidated operating profit was provisionally tallied at 94.847 billion won, down 53.4% from the same period last year.

According to the provisional consolidated financial results disclosed by LG Innotek on the 27th, third-quarter revenue came to 6.3671240 trillion won, up 18.6% year-on-year and up 15.2% from the previous quarter.

Meanwhile, operating profit stood at 94.847 billion won, down 61.4% from the previous quarter and down 53.4% compared with the third-quarter operating profit of 203.749 billion won posted last year.

Q3 Net Profit of KRW 95.2 Billion, Down 25.8% Year-on-Year

Profit from continuing operations before corporate tax expenses was 115.457 billion won, down 26.4% year-on-year and down 48.0% from the previous quarter. Net income for the period was 95.225 billion won, down 25.8% year-on-year and down 43.9% from the previous quarter. Net profit attributable to owners of the parent company was also tallied at 95.225 billion won.

Cumulative Q1-Q3 Operating Profit of KRW 635.9 Billion, Up 86.9% Year-on-Year

On a cumulative basis for the first three quarters of this year, revenue totaled 17.42920 trillion won, up 22.0% from the same period last year. Cumulative operating profit rose 86.9% year-on-year to 635.92 billion won.

During the same period, cumulative profit from continuing operations before corporate tax expenses increased 145.3% year-on-year to 620.511 billion won. Cumulative net income for the period and net profit attributable to owners of the parent company each rose 140.6% year-on-year to 494.035 billion won.

Provisional Results Subject to Change Pending External Audit Review

LG Innotek stated that these results are provisional figures based on consolidated financial statements prepared under Korean International Financial Reporting Standards (K-IFRS). The company also explained that the figures were compiled before the external auditor's accounting review has been completed and may be changed during the review process.