Analysis
LG Energy Solution 2024 Annual Results: Revenue Down 24%, IRA Credits Double
LG Energy Solution
📍 Seoul, South Korea · Est. 2020Listed · KRX: 373220
Overview
LG Energy Solution, split off from LG Chem in December 2020 and headquartered in Seoul, South Korea, is one of the world's largest battery manufacturers. The company supplies both NMC and LFP cells for energy storage to integrators worldwide, and closed 2025 with a 140 GWh ESS order backlog. Manufacturing runs through Ochang in South Korea, Wroclaw in Poland, Nanjing in China and Michigan in the United States.
At a Glance
KRW 23.7T (~US$17.5B)
Revenue
Products
LG Energy Solution offers 2 BESS products across 2 categories: Battery Cell, DC Block.
Battery Cell
JF2S Cell
View specs
DC Block
JF2S DC LINK
5 MWh
View specs
Global Presence
LG Energy Solution is headquartered in Seoul, South Korea with manufacturing in South Korea, Poland, USA (Michigan), China. 5 known facilities worldwide.
HQ
Manufacturing
Facilities
HQ
Seoul, South Korea
Manufacturing
Ochang, North Chungcheong, South KoreaWroclaw, PolandNanjing, Jiangsu, ChinaMichigan, United States
Financials & Reports
LG Energy Solution is publicly listed (KRX: 373220). Key figures from FY2025. Annual report available for download.
Key Figures
KRW 23.7T (~US$17.5B)
Revenue
-KRW 1.07T (~-US$795M)
Net Income
17.9%
Gross Margin
BBB (S&P)
Credit Rating
Source: 2025 consolidated audit report. Revenue KRW 23,671,759M, down 7.6%. Operating profit KRW 1,346,120M, up 133.9%, a 5.7% margin including the North American production incentive. Net income shown is the result attributable to owners of the parent, a loss of KRW 1,072,810M; profit for the year including non-controlling interests was positive at KRW 80,803M. Credit rating is carried over from the previous profile and was not re-verified this run.
Independent Analysis
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Analysis
LG Energy Solution 2025 Annual Results: Operating Profit Doubles to KRW 1.35 Trillion, Yet Shareholders Post a KRW 1.07 Trillion Loss
Stock Price Performance
Sustainability
LG Energy Solution publishes an ESG report covering environmental, social, and governance practices. Key metrics from 2024.
ESG Key Figures
5.73 tCO2e/100M KRW
GHG Intensity
91%
Waste Recycled
4,527
R&D Staff
Source: 2024 ESG report. GHG intensity is Scope 1 and 2, market-based. Waste recycling rate 91%, up from 83% in 2022. 32,071 employees across 11 countries, 20,311 of them overseas. Target of RE100 by 2030.
Certifications & Compliance
LG Energy Solution holds 3 certifications covering quality management, environmental standards, and safety compliance.
ISO 9001
ISO 14001
ISO 45001
