LG Energy Solution's Q2 2024 financial report shows consolidated revenue of KRW 6.1619 trillion, up 0.5% QoQ but down 29.8% YoY. Operating profit was KRW 195.3 billion, up 24.2% QoQ but down 57.6% YoY, with an operating margin of 3.2%.
Calculated on a half-year basis, LG's operating profit was JPY 352 billion, equivalent to RMB 1.8 billion. Excluding the IRA effect, the loss would be RMB 150 million. Apart from CATL, it seems no battery company worldwide is doing well.
Note: BYD's figures are consolidated, combining battery and vehicle profits.
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