LG Innotek Releases 2022 3rd Quarter Earnings Report

Performance by Business Units

Optics Solution Business recorded sales of KRW 4,439.5 billion, a 48% increase from the same period of the last year. Supply for the new model on the customer was initiated in full-scale to increase in sales centrally on the high value added products such as the multiple camera module for Smartphones and 3D sensing module, etc. The sales compared to the previous quarter was increased by 58%.

Substrate & Material Business recorded sales of KRW 435.6 billion, a 3% increase from the same period of the last year. Due to the supply for the new model on the customer was expanded to lead the increase in the sales of semiconductor substrates for 5G communication. Meanwhile, display components including the tape substrate and photomask suffered due to the decrease in demand from the front industries including TV/IT products, etc. The sales compared to the previous quarter was decreased by 4%.

Automotive Components Business recorded sales of KRW 380.8 billion, a 48% increase from the same period of the last year and a 15% increase from the quarter prior. As the demand from the front industries increased and expanded in the demand for electric vehicles/autonomous driving vehicles, the sales from all product groups including the vehicle communication module and power for electric vehicles were increased to lead the continuous sales growth for 5 consecutive quarters.

Moreover, LG Innotek succeeded in improving the profitability through elitism of product/customer structure, reinforcement of global SCM capabilities, and development centrally on the platform model (universal products for minimizing the need for customizing).

About LG Innotek Co.,Ltd.

LG Innotek is a cutting-edge materials and components manufacturer and an affiliate of the LG group. The company's business units include core components for mobile, automotive, display, semiconductor, and IoT products. Furthermore, the company has cooperated closely with the mobile devices, home appliances, and automotive companies, producing camera modules, automotive electronic components, wireless communication modules, and substrate materials.

LG Innotek is headquartered in Seoul, Korea and its sales subsidiaries are located in Germany, USA, Mainland China, Japan, and Taiwan with production subsidiaries in Mainland China, Vietnam, Indonesia, Mexico, and Poland. For more information, please refer to the website: www.lginnotek.com

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