▲ LG Innotek Q4 2021 Business Performance and 2021 Annual Business Performance

(Based on consolidated financial statements, Unit: 100 million KRW, %)

Smartphone components such as camera modules and semiconductor substrates drive performance
Q4 2021 Revenue 5.7231 trillion won… Up 48.9% year-on-year

LG Innotek surpassed 10 trillion won in revenue for the first time in history last year, driven by performance in smartphone components such as camera modules and semiconductor substrates.

LG Innotek announced its business results for the fourth quarter of 2021 on the 26th.

Looking at LG Innotek's consolidated financial statements, annual revenue in 2021 was 14.9456 trillion won, a 56.6% increase from the previous year, and operating profit was 1.2642 trillion won, an 85.6% increase.

With this, LG Innotek surpassed 10 trillion won in sales and 1 trillion won in operating profit for the first time in its history.

The optical solutions business led earnings growth, while the substrate materials and automotive components businesses supported sales expansion.

LG Innotek recorded sales of 5.7231 trillion won and an operating profit of 429.8 billion won in the fourth quarter of 2021 under Korean International Financial Reporting Standards (K-IFRS).

Sales increased by 48.9% and operating profit by 25.6% compared to the same period last year, and compared to the previous quarter Sales increased by 50.7% and operating profit by 28%.

Looking at the performance by business segment, sales of the Optical Solutions business amounted to 11.5178 trillion won, a 69.9% increase compared to the previous year.

Fourth-quarter revenue was 4.7945 trillion won, a 57% increase compared to the same period last year and a 65% increase compared to the previous quarter.

This is the result of increased supply of new models to client companies and increased sales of high-value products such as multiple camera modules and 3D sensing modules.

Sales of the substrate materials business last year amounted to 1.5709 trillion won, an increase of 26.3% compared to the previous year.

It continued its growth trend driven by robust demand for semiconductor substrates and expanded production capacity.

Fourth-quarter revenue was 427.5 billion won, a 26% increase compared to the same period last year and a 1% increase compared to the previous quarter.

Sales of the automotive components business last year amounted to 1.3903 trillion won, an increase of 17.1% compared to the previous year.

Sales showed a balanced strong trend across the entire product line, including automotive cameras, communication modules, and power supplies for electric vehicles.

Fourth-quarter sales increased by 13% compared to the same period last year and recorded 387.3 billion won in sales, a 13% increase compared to the previous quarter.

The automotive components business is focusing all its efforts on enhancing order soundness and improving profitability, even amidst a challenging market environment marked by global supply and demand issues for automotive semiconductors.