BRIEF-LG Energy Solution Aims To Achieve Double-Digit Operating Profit Margin In Five Years

LG Energy Solution Ltd: * LG ENERGY SOLUTION: AIMS TO EXPAND JOINT VENTURE WITH OEMS FOR POUCH BATTERIES AND CYLINDRICAL BATTERY SUPPLY FOR STRATEGIC CUSTOMERS AND ELECTRIC VEHICLE STARTUPS FOR NORTH AMERICA MARKET

* LG ENERGY SOLUTION: PLANS TO ADD A NEW PRODUCTION FOOTPRINT FOR CYLINDRICAL BATTERIES IN ADDITION TO EXISTING PLANT IN POLAND FOR POUCH BATTERIES * LG ENERGY SOLUTION: WILL SECURE NEW PRODUCTION SITE OTHER THAN CHINA

* LG ENERGY SOLUTION: AIMS TO INCREASE REVENUE THREE TIMES IN FIVE YEARS * LG ENERGY SOLUTION: AIMS TO ACHIEVE DOUBLE-DIGIT OPERATING PROFIT MARGIN IN FIVE YEARS

* LG ENERGY SOLUTION: SPENT ABOUT 2.7 TRILLION WON ON CAPITAL EXPENDITURE IN THE FIRST HALF OF THIS YEAR * LG ENERGY SOLUTION: NO CUSTOMER DEMAND CHANGE FOR OUR ARIZONA BATTERY PLANT, HOWEVER, CO REVIEWS ARIZONA PLAN DUE TO MARKET CONDITIONS IN NORTH AMERICA MARKET, SUCH AS EXTREME INFLATION AND RISING CONSTRUCTION AND LOGISTICS COST

* LG ENERGY SOLUTION: EXPECTS ELECTRIC VEHIELVE DEMAND TO REMAIN STRONG DUE TO PENT-UP DEMAND AND ORDER BACKLOGS CAUSED BY PARTS SHORTAGE ISSUES CAUSED BY COVID AND UKRAINE WAR * LG ENERGY SOLUTION: SECURED ABOUT ORDER BACKLOGS WORTH ABOUT 310 TRILLION WON AS OF END OF JUNE THIS YEAR

* LG ENERGY SOLUTION: EXPECTS TO ACHIEVE MID-SINGLE OPERATING PROFIT MARGIN IN H2 * LG ENERGY SOLUTION: PLANS TO PRODUCE LITHIUM IRON PHOSPHATE (LFP) BATTERIES IN LGES CHINA FACTORY IN 2023

* LG ENERGY SOLUTION: PLANS TO ADD NEW LFP BATTERY PRODUCTION LINE IN ITS MICHIGAN FACTORY IN 2024 TO RESPOND TO NORTH AMERICA DEMAND Source text for Eikon: Further company coverage:

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