Gross revenue of the company amounted to 14.497 trillion Korean won, while net profit - 1.146 trillion Korean won. Results are based on stable performance LCD TV and mobile phones.
LG Electronics (LG) announced today that they are not audited consolidated profit for the three months ended June 30. The amount of Korean won translated into U.S. dollars (USD) at the average rate for three months in each reporting period: 1,291 Korean Won per 1 USD (2009 Q2), 1,409 Korean Won per 1 USD (2009 Q1, QoQ) and 1,016 Korean won for the 1 USD (2008 Q2, YoY).
Sales and Profit
In the second quarter of 2009, LG has recorded record sales and operating profit as the breast, and global levels. Sales at the world level (including foreign affiliates LG) grew by 13.8% to 14.497 trillion Korean won (11.229 billion USD) compared to the same period last year. Operating profit rose to 1.133 trillion Korean won (878 million USD), representing 7.8% of the margin of profit. This represents an increase of 1.1% higher than the previous year. At the breast level, the company recorded sales of $ 8.477 trillion Korean won (6.566 billion USD) and an operating profit - 714 billion Korean won (553 million USD).
Home Entertainment division sales grew by 19.3% to 4.509 trillion Korean won, reaching the size of the profit Korean Won 224 billion (174 million USD) - 5% margin. This is 4.7% higher than the previous year, due to the high level of sales of flat panel TV (LCD TV in particular), even in vnesezonny period. Shipments increased by 45% (compared with the previous year) to 4.28 million units. The company expects the flat panel TV shipments in the third quarter will be even higher due to increased demand for premium models.
Sales Mobile Communications unit accounted for 5.140 trillion Korean won (3.981 billion USD), which is 25.8% higher than the previous year. And operating profit is fixed at 545 billion Korean won (422 million USD), representing 10.6% of the margin. Sales of mobile phones amounted to 4.877 trillion Korean won (3.778 billion USD), which is 29.9% higher than the previous year. Operating profit reached 538 billion Korean won (417 million USD), representing 11% of the margin. Shipments of mobile phones increased by 7.8% over the same period last year and by 32% compared with the previous quarter to 29.82 million units. These figures resulted from high demand for mid-level models, such as Cookie phone withfull touch screen phone for LG KS360 messaging with a QWERTY keyboard, multimedia and multi-phone ARENA with a new user interface S-Class, enV3 with a QWERTY keyboard for messaging and enV Touch with a QWERTY keyboard for messaging and touch screen. Profitability has improved due to release new models as well as a shift in demand from sredneurovnevyh phones to high-quality models. Given the global economic recession, which is expected to continue, LG predicts a decrease of global markets for more than 6% over the previous year to 280 million units in the third quarter. However, the LG company expects a steady growth in relation to the finding of new high-devaysov - the fourth model series of LG Black Label, smartphone GM730 and unique GD900 Crystal Clear keyboard.
Unit Home Appliance Company announced an increase of sales by 9.8% to 2.339 trillion Korean won (1.812 billion USD) compared to last year. Changes in exchange rates resulted in decreased sales by 14% in dollar terms, while the Korean won there 10% rise. Problems in the real estate market slows down the recovery of household appliances. However, the competitive advantage of models of household appliances LG contributed to the increase in operating profit to 181 billion Korean won (140 million USD), representing 7.7% of the margin, and it is at 2.9% above the previous year. In the third quarter, as expected, market demand (as compared with the previous year) will decrease because of the continuing recession. But at the same rate of decline is expected to slow.
unit Air Conditioning Sales grew by 1.8% to 1.720 trillion Korean won (1.332 billion USD) compared to last year, taking into account the drop of sales in dollar terms and an increase in the Korean won. Operating profit amounted to 175 billion Korean won (136 million USD) due to increased demand for premium models. Despite the current downturn, the company anticipates growth in the third quarter of its shares in Korea, Europe, Australia and other markets in the southern hemisphere at the expense of commercial models of air conditioners with energy-efficient products and technology with inverternoy for housing.
Unit Business Solutions has announced a reduction in sales to 7.8% over the previous year to 1.016 trillion Korean won (787 billion USD) in current operating profit of 14 billion Korean won (11 million USD). This unit is more than the other effects of the crisis, which led to a drop in demand for monitors, automotive products and safety devices. The company will focus on increasing sales of its monitors, since starting the season with a high demand for IT and automotive products. As expected, the situation of the automobile products improve as the global automotive industry is restored.
Financial Statements and the extraordinary performance of activities of parent company
LG recorded returnable profit of $ 1.408 billion Korean won (1.091 million USD) and net profit at 62%, equal to 1.146 trillion Korean won (888 billion USD), representing 13.5% of the margin and 3.7% more than similar the previous year.
Income from exchange rate difference in the amount of 286 billion Korean won (222 million USD) and equity capital equal to 461 billion Korean won (357 million USD), received from foreign subsidiaries and affiliated companies, have helped to increase net profit. LG Display, which LG Electronics owns 37.9% stake, recorded their own capital at the level of 112 billion Korean won (87 million USD).
directions and prospects for business development in the 3 quarter of 2009
LG Electronics expects increasing sales by 10% compared to the same period last year, as demand for LCD TV and mobile phones will grow and yield would be comparable to last year's level.
South Korea: LG Electronics profit in the second quarter reached a record high
Gross revenue of the company amounted to 14.497 trillion Korean won, while net profit - 1.146 trillion Korean won. Results are based on stable performance LCD TV and mobile phones.
LG Electronics (LG) announced today that they are not audited consolidated profit for the three months ended June 30. The amount of Korean won translated into U.S. dollars (USD) at the average rate for three months in each reporting period: 1,291 Korean Won per 1 USD (2009 Q2), 1,409 Korean Won per 1 USD (2009 Q1, QoQ) and 1,016 Korean won for the 1 USD (2008 Q2, YoY).
Sales and Profit
In the second quarter of 2009, LG has recorded record sales and operating profit as the breast, and global levels. Sales at the world level (including foreign affiliates LG) grew by 13.8% to 14.497 trillion Korean won (11.229 billion USD) compared to the same period last year. Operating profit rose to 1.133 trillion Korean won (878 million USD), representing 7.8% of the margin of profit. This represents an increase of 1.1% higher than the previous year. At the breast level, the company recorded sales of $ 8.477 trillion Korean won (6.566 billion USD) and an operating profit - 714 billion Korean won (553 million USD).
Home Entertainment division sales grew by 19.3% to 4.509 trillion Korean won, reaching the size of the profit Korean Won 224 billion (174 million USD) - 5% margin. This is 4.7% higher than the previous year, due to the high level of sales of flat panel TV (LCD TV in particular), even in vnesezonny period. Shipments increased by 45% (compared with the previous year) to 4.28 million units. The company expects the flat panel TV shipments in the third quarter will be even higher due to increased demand for premium models.
Sales Mobile Communications unit accounted for 5.140 trillion Korean won (3.981 billion USD), which is 25.8% higher than the previous year. And operating profit is fixed at 545 billion Korean won (422 million USD), representing 10.6% of the margin. Sales of mobile phones amounted to 4.877 trillion Korean won (3.778 billion USD), which is 29.9% higher than the previous year. Operating profit reached 538 billion Korean won (417 million USD), representing 11% of the margin. Shipments of mobile phones increased by 7.8% over the same period last year and by 32% compared with the previous quarter to 29.82 million units. These figures resulted from high demand for mid-level models, such as Cookie phone withfull touch screen phone for LG KS360 messaging with a QWERTY keyboard, multimedia and multi-phone ARENA with a new user interface S-Class, enV3 with a QWERTY keyboard for messaging and enV Touch with a QWERTY keyboard for messaging and touch screen. Profitability has improved due to release new models as well as a shift in demand from sredneurovnevyh phones to high-quality models. Given the global economic recession, which is expected to continue, LG predicts a decrease of global markets for more than 6% over the previous year to 280 million units in the third quarter. However, the LG company expects a steady growth in relation to the finding of new high-devaysov - the fourth model series of LG Black Label, smartphone GM730 and unique GD900 Crystal Clear keyboard.
Unit Home Appliance Company announced an increase of sales by 9.8% to 2.339 trillion Korean won (1.812 billion USD) compared to last year. Changes in exchange rates resulted in decreased sales by 14% in dollar terms, while the Korean won there 10% rise. Problems in the real estate market slows down the recovery of household appliances. However, the competitive advantage of models of household appliances LG contributed to the increase in operating profit to 181 billion Korean won (140 million USD), representing 7.7% of the margin, and it is at 2.9% above the previous year. In the third quarter, as expected, market demand (as compared with the previous year) will decrease because of the continuing recession. But at the same rate of decline is expected to slow.
unit Air Conditioning Sales grew by 1.8% to 1.720 trillion Korean won (1.332 billion USD) compared to last year, taking into account the drop of sales in dollar terms and an increase in the Korean won. Operating profit amounted to 175 billion Korean won (136 million USD) due to increased demand for premium models. Despite the current downturn, the company anticipates growth in the third quarter of its shares in Korea, Europe, Australia and other markets in the southern hemisphere at the expense of commercial models of air conditioners with energy-efficient products and technology with inverternoy for housing.
Unit Business Solutions has announced a reduction in sales to 7.8% over the previous year to 1.016 trillion Korean won (787 billion USD) in current operating profit of 14 billion Korean won (11 million USD). This unit is more than the other effects of the crisis, which led to a drop in demand for monitors, automotive products and safety devices. The company will focus on increasing sales of its monitors, since starting the season with a high demand for IT and automotive products. As expected, the situation of the automobile products improve as the global automotive industry is restored.
Financial Statements and the extraordinary performance of activities of parent company
LG recorded returnable profit of $ 1.408 billion Korean won (1.091 million USD) and net profit at 62%, equal to 1.146 trillion Korean won (888 billion USD), representing 13.5% of the margin and 3.7% more than similar the previous year.
Income from exchange rate difference in the amount of 286 billion Korean won (222 million USD) and equity capital equal to 461 billion Korean won (357 million USD), received from foreign subsidiaries and affiliated companies, have helped to increase net profit. LG Display, which LG Electronics owns 37.9% stake, recorded their own capital at the level of 112 billion Korean won (87 million USD).
directions and prospects for business development in the 3 quarter of 2009
LG Electronics expects increasing sales by 10% compared to the same period last year, as demand for LCD TV and mobile phones will grow and yield would be comparable to last year's level.
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