▲ LG Innotek Q1 2022 Business Performance Summary (Unit: KRW 100 million)



Sales up 28.7% year-on-year, operating profit up 5.8%
Sales down 31.0% and operating profit down 14.6% compared to the previous quarter

LG Innotek's first-quarter revenue rose 28.7% year-on-year amid robust demand for high-performance camera modules for smartphones and semiconductor substrates for 5G communication, despite the seasonal off-peak period.

LG Innotek announced that it recorded sales of 3.9517 trillion won and an operating profit of 367.1 billion won in the first quarter of 2022 under Korean International Financial Reporting Standards (K-IFRS).

"A company official stated, 'The performance was supported by increased sales across the entire product line of automotive electronics, including components for electric vehicles and autonomous driving, such as communication modules and power supplies for EVs.'"

Sales increased by 28.7% and operating profit by 5.8% compared to the same period last year. Compared to the previous quarter, sales decreased by 31.0% and operating profit by 14.6%.

The Optical Solutions business recorded sales of 3.0885 trillion won, a 33% increase compared to the same period last year. This result was achieved through continued supply of high-value-added products, such as multi-camera modules and 3D sensing modules, to new customer models, even during the typical seasonal off-peak period. However, sales decreased by 37% compared to the previous quarter.

The substrate materials business recorded sales of 415 billion won, up 16% from the same period last year. The company maintained solid performance, centered on 5G communication semiconductor substrates, such as substrates for Radio Frequency-Based Package Systems (RF-SiP) and 5G Millimeter Wave Antenna Packages (AiP). Revenue decreased by 3% compared to the previous quarter.

The automotive components business recorded sales of 313.8 billion won, an 18% increase compared to the same period last year and an 8% increase compared to the previous quarter. Sales increased across the entire product line of automotive components, including parts for electric vehicles and autonomous driving, such as communication modules and power supplies for electric vehicles.

LG Innotek's automotive components business is focusing on improving profitability through the development of platform models (general-purpose products that minimize customization) and enhancing order soundness, despite challenging market conditions such as global supply and demand issues for automotive semiconductors.