LS (006260) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 was ₩13,359.3 billion, down from ₩24,480.7 billion in FY2023 and ₩17,491.3 billion in H1 2022.

• Operating income for H1 2024 was ₩618.1 billion, compared to ₩899.7 billion in FY2023 and ₩669.5 billion in H1 2022.

• Net income attributable to controlling interests was ₩220.8 billion for H1 2024, down from ₩435.9 billion in FY2023 and ₩793.3 billion in H1 2022.

• The company maintained a stable capital structure and continued its dividend policy, marking 30 consecutive years of dividend payments.

Financial highlights

• Gross margin for H1 2024 was ₩1,397.7 billion, up from ₩1,239.3 billion in H1 2023.

• Operating margin for H1 2024 was 4.6%, compared to 3.7% in H1 2023.

• EPS for H1 2024 was ₩8,071, compared to ₩15,881 in FY2023 and ₩28,645 in FY2022.

• Cash and cash equivalents at June 2024 were ₩1,286.7 billion, down from ₩1,701.2 billion at December 2023.

• Total assets at June 2024 were ₩20,001.3 billion, with total equity of ₩6,929.0 billion.

Outlook and guidance

• The company plans to maintain its focus on core businesses and continue investments in capacity expansion and R&D.

• Management expects continued volatility in raw material prices and foreign exchange rates, but anticipates stable demand in key sectors such as energy, electrification, and infrastructure.

• Dividend policy will remain focused on stable and growing returns to shareholders.