LG in Russia is doing great, despite the suspension of supplies: profits have increased by an order of magnitude

It amounted to 3.3 billion rubles

South Korean LG Electronics increased its net profit in Russia for 2023 by 8.7 times, it amounted to almost 3.3 billion rubles.

At the same time, in 2022 the company’s profit decreased by 19 times compared to 2021 after the suspension of all supplies to Russia.

Net profit in Russia in 2023 amounted to 3.259 billion rubles compared to 376 million rubles a year earlier. Sales profit increased 2.1 times, to 3.2 billion rubles. Revenue amounted to 36.9 billion rubles, which is twice as much as a year earlier. Last year it more than halved.

In Russia, the company still has leased space of more than 6 thousand square meters. m.