LG Energy Solution saw Q3 operating profit surge 34.1 percent to 601.3 billion won, the company’s second consecutive quarterly operating profit.
LG Energy Solution chalked up 1.4 billion won in operating profit in the second quarter of this year except subsidies, but the company is evaluated to have seen Q3 operating profit improve to 235.8 billion won.
The improving business performance is analyzed to be owed to full-fledged profit-taking on the back of energy storage systems (ESS) deliveries in the North American region.
In a preliminary public notice released on Oct. 13, LG Energy Solution logged 5,699.9 billion won in sales and 601.3 billion won in operating profit in the third quarter of the year.
The figures represent a 17.1 percent year-on-year plunge in sales and a 34.1 percent year-on-year jump in operating profit.
They saw a 2.4 percent rise in sales and a 22.2 percent surge in operating profit compared to the previous quarter.
LG Energy Solution received 365.5 billion won in Q3 tax credit subsidies under the U.S. Inflation Reduction Act.
The tax credit subsidies for the previous quarter amounted to 490.8 billion won.
The company saw Q2 operating profit dwindle to 1.4 billion won, without subsidies, but saw Q3 operating profit improve.
Battery business sources said the improving business performance of LG Energy Solution was owed to full-fledged profitability on the back of ESS deliveries in North America, and the improving small battery business, thanks to the rising demand of cylindrical EVs. Pouch customer companies also contributed.
Battery companies said as North American EV subsidies are to terminate in the second half of this year, major automakers are expected to adjust electrification and have stockpile conservatively and volume growth is likely to be limited.
Given the steadier trend of North American ESS demand, the market consensus is that LG Energy Solution, the sole company with ESS production capacity in North America, has a positive outlook.
It is learned that LG Energy Solution plans to minimize fixed costs through resource redeployment and cost efficiency, and maximize facility efficiency by focusing on the supply of energy storage systems at some production sites, including joint ventures.
LG Energy Solution Showcases Next-Generation ESS Technologies at RE+ 2025 in Las Vegas
LG Energy Solution presented its latest breakthrough products at RE+ 2025, the renewable energy industry’s global trade fair from Sept. 8 to 11 at the Venetian Expo and Caesars Forum in Las Vegas.
Under the theme “One stop ESS solutions — Engineered, Delivered, Serviced for the North American Market,” LG Energy Solution emphasized its unique position as the only battery company that boasts an entire value chain in North America.
By leveraging a stable North American production base, a roadmap of next-generation products, and data-driven digital services, the company is now fully equipped to tailor its solutions for local customers.
At this year’s exhibition, LG Energy Solution presented its latest innovations in four distinctive zones: Grid-Scale Batteries, One Stop ESS Solutions, AIDC (AI Data Center)/UPS, and Home Batteries.
In the Grid-Scale Batteries Zone, the company exhibited the JF2 AC/DC LINK system, tailored for the North American market and launched into production earlier this year.
Powered by highly efficient, safe LFP batteries, this advanced system stores up to 5.1MWh of energy. It also offers flexibility by letting customers choose their preferred output type (AC or DC).
The JF2 AC/DC LINK also features LG Energy Solution’s proprietary safety-reinforced pack and system design, meeting all stringent North American requirements related to thermal runaway propagation mitigation, including UL9540A and Large-Scale Fire Testing (LSFT).
Fully manufactured and supplied within North America — from cells to packs to systems — the company’s U.S. made production network secures a stable supply for North American customers in a rapidly changing global environment, while also enabling them to benefit from IRA tax incentives.
LG Energy Solution also presented its LFP battery cell prototypes based on the prismatic form factor, the first of its kind to be produced in North America.
In addition, the company unveiled its JF2 and JF3 battery cell and pack products made from pouch-type LFP batteries with an ultra-high energy of over 500Wh.
These breakthrough solutions form part of a roadmap of next-generation cell and pack products based on both prismatic and pouch form factors.
_LG에너지솔루션 김동명 사장.jpg)
_LG에너지솔루션도표_대지 1.jpg)
