LG Innotek (011070) Q2 2024 earnings summary

Executive summary

• Operates in three main segments: Optical Solutions, Substrate Materials, and Automotive Components, with global manufacturing and R&D presence.

• 2024 half-year revenue was ₩8,888.8 billion, with operating income of ₩327.7 billion and net income of ₩237.4 billion.

• Maintains strong partnerships with global customers in smartphones, automotive, and electronics.

Financial highlights

• Revenue for H1 2024 was ₩8,888.8 billion, down from ₩20,605.3 billion in FY2023.

• Operating income for H1 2024 was ₩327.7 billion, with net income at ₩237.4 billion.

• Gross margin for H1 2024 was 9.2%, and basic EPS was ₩10,030.

• Cash and cash equivalents at June 30, 2024, were ₩1,167.4 billion.

Outlook and guidance

• Expects continued growth in premium smartphones, AI server demand, and automotive components, despite global economic uncertainties.

• Plans to expand market share in core businesses and invest in new growth areas such as LiDAR and advanced automotive sensors.