LG Household & Health Care ( (LGHHF) ) has realeased its Q3 earnings. Here is a breakdown of the information LG Household & Health Care presented to its investors.
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LG Household & Health Care is a diversified South Korean company operating across the beauty, home care, and refreshment sectors, known for its strong brand portfolio and focus on premium products.
In its recent earnings report for the third quarter of 2024, LG Household & Health Care reported a marginal decline in overall sales by 1.9% year-on-year to KRW 1,714 billion, while operating profit fell by 17.4% to KRW 106 billion. Despite the challenges, the company has shown resilience in certain segments, particularly in the beauty sector, where operating profit saw a significant increase.
Key financial metrics highlighted in the report show a mixed performance across the company’s business segments. The beauty segment saw a 2.9% decrease in sales but managed to increase its operating profit by an impressive 42.8%, driven by higher overseas profitability and strategic marketing. Meanwhile, the home care and daily beauty segment experienced a 1.3% drop in sales and an 11.8% decline in operating profit. The refreshment segment faced a 1.1% reduction in sales, with operating profit plummeting by 27.5%, attributed to high raw material costs and stiff competition.
Looking ahead, LG Household & Health Care remains optimistic about expanding its presence in international markets, particularly through digital and social media channels. The company plans to continue enhancing its brand portfolio and introduce innovative products tailored to local market needs, aiming for sustainable growth despite the current market challenges.