South Korea's LG Energy Solution Q1 profit rises 138% on weak won

ReutersApr 30, 2025 12:17 AM

View all comments（0）



SEOUL, April 30 (Reuters) - South Korean battery firm LG Energy Solution (LGES) 373220.KS on Wednesday posted a 138% rise in first-quarter profit, helped by favourable foreign exchange rates that cushioned slowing growth of electric vehicle (EV) sales in major overseas markets.

LGES, which supplies Tesla TSLA.O, General Motors GM.N and Hyundai Motor 005380.KS among others, reported an operating profit of 375 billion won ($261.96 million) for the January-March period, in line with earlier guidance.

The result compared with a 157 billion won profit a year earlier.

The company would have made an 83 billion won operating loss without a tax credit received under the U.S. Inflation Reduction Act, LGES said in a regulatory filing.

($1 = 1,431.5000 won)

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

US-Iran Tensions Rise. Bitcoin Gains Instead of Falling, This Week’s CPI Sets Tone for Pullback Risk

The escalation of U.S.-Iran tensions remains contained and has not threatened Bitcoin’s rally, but this Tuesday’s CPI data could trigger a price pullback to $75,000.

Japan, South Korea Stocks Open Higher Collectively, Kospi Rises Over 4% Past 7800. Program Trading Briefly Suspended.

TradingKey — On Monday, May 11, Asia-Pacific equity markets extended their AI-driven rally. South Korea’s KOSPI index opened 3.7% higher, with intraday gains expanding to as much as 4.2%, surpassing the 7,800-point psychological level for the first time.

Is Micron the Next Nvidia? Why the 2026 "Memory Crunch" Makes MU Stock a Top AI Buy

While there is still a risk of industry cycles, the current "Memory Crunch" has put Micron in a position of power that the company likely has never had in its 40-year history. For anyone looking to play the physical infrastructure of the future, MU stock is still a top pick for a diversified tech po

U.S. April CPI Preview: Fed May Abandon Rate Cuts Until 2026?

TradingKey - The U.S. Bureau of Labor Statistics will release the April CPI report on May 12 at 8:30 a.m. ET. Since the outbreak of the U.S.-Iran conflict in late February, the global energy market has experienced the most severe geopolitical supply shock in history. As the conflict enters its third month, traffic through the Strait of Hormuz remains significantly below pre-war levels, with approximately 20% of the world's oil transit routes still facing "interruption." This inflation report will serve as a critical validation window for the transmission effects of oil prices.

'Big Short' Burry Doubles Down: Nvidia, Palantir Short Positions Double in Big Bet on AI Bubble Bursting

TradingKey — As the Nasdaq continues to hit consecutive record highs, Michael Burry—who rose to fame during the 2008 subprime mortgage crisis and was the inspiration for the film *The Big Short*—is betting with unprecedented intensity on the bursting of the AI bubble.

Featured Tools