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LG Chem Q4 profit climbs 30.5% YOY

LG Chem Ltd. said its fourth-quarter normalized net income amounted to 4,388.29 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 4,704.78 won per share.

EPS climbed 30.5% year over year from 3,363.35 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 289.24 billion won, a gain of 30.5% from 221.68 billion won in the prior-year period.

The normalized profit margin rose to 4.2% from 4.1% in the year-earlier period.

Total revenue declined 6.2% on an annual basis to 5.041 trillion won from 5.372 trillion won, and total operating expenses fell 8.8% from the prior-year period to 4.688 trillion won from 5.141 trillion won.

Reported net income grew 182.5% from the prior-year period to 92.11 billion won, or 1,397.54 won per share, from 32.60 billion won, or 494.65 won per share.

For the year, the company's normalized net income totaled 16,307.72 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 18,225.17 won.

EPS rose from 12,257.88 won in the prior year.

Normalized net income was 1.075 trillion won, an increase from 807.93 billion won in the prior year.

Full-year total revenue fell year over year to 20.207 trillion won from 22.578 trillion won, and total operating expenses decreased year over year to 18.383 trillion won from 21.267 trillion won.

The company said reported net income increased on an annual basis to 1.033 trillion won, or 15,674.31 won per share, in the full year, from 777.60 billion won, or 11,797.72 won per share.

As of May 18, US$1 was equivalent to 1,186.55 South Korean won.