On the afternoon of October 21, LG Chem announced its third-quarter performance report, and both sales and operating profit hit a record high.
According to the data, LG Chem’s total sales in the third quarter were 7.5 trillion won, an increase of 8.8% year-on-year, and its operating profit reached 902.1 billion won, an increase of 158.7% year-on-year. Both set a single-quarter record.
It is understood that LG Chemical's business divisions are divided into petrochemical divisions, automotive battery divisions, advanced materials divisions, and life science divisions.
Thanks to the increase in demand for major products such as ABS, PVC, and NBL, the prices of raw materials continued to fall, which widened the spot price gap with actual products, and greatly improved sales and profitability. In the third quarter of 2020, the operating profit of the petrochemical business reached 721.5 billion won, with an operating profit margin of 20.1%.
