25
Jul
09:27
LGES lowers annual guidance amid slower EV market growth
South Korean battery material giant LG Energy Solution (LGES) reported second-quarter operating profit at KRW 195 billion ($141 million), down 58% on-year. However, this was up 24% on-quarter, Kallanish notes. It has also lowered its annual revenue and production ramp-up targets due to slower growth in the electric vehicle segment.
Operating margin was at 3.2%, up from 2.6% in Q1 but down from 5.2% a year earlier.
Revenue reached KRW 6.16 trillion, up 0…
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Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous