LG Chem reports 17.4% drop in Q3 operating profit

LG Chem reported a third-quarter consolidated revenue of 15.496 trillion won, a 34% increase compared to the previous year, while operating profit fell 17.4% to 561.2 billion won.

The petrochemical division recorded an operating loss of 175.6 billion won on revenue of 4.7547 trillion won, driven by narrowed product spreads, increased transportation costs, and exchange rate fluctuations. In contrast, the advanced materials division saw improved performance with 39.7 billion won in operating profit, supported by increased battery material volumes and steady demand for electronic materials in the semiconductor and automotive sectors.

The life sciences division reported 23.2 billion won in operating profit, while the subsidiary FarmHannong recorded an operating loss of 20.7 billion won. LG Chem plans to focus on expanding high-value businesses and structural transitions to strengthen competitiveness and shareholder returns.