LG Chem, Ltd. Announces Earnings Results for the Fourth Quarter and Full Year Ended December 2015; Provides Earnings Guidance for the Year 2016
For the year, the company reported operating income grew 39% to KRW 1,824 billion in 2015 from KRW 1,311 billion in 2014. The year-on-year growth in earnings was mainly driven by the strong performance of its core chemical business, which more than offset the softer performance of its non-chemical businesses. The company posted a 34.5% jump in net profit to KRW 1.15 trillion, even as sales declined by 10.5% to KRW 20.2 trillion.
For the year 2016, the company is targeting to grow its revenue by 7.3% to KRW 21.7 trillion, with capital expenditures expected to rise 3.3% to KRW 1.78 trillion.