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MarketScreener Homepage  >  Equities  >  KOREA EXCHANGE  >  LG Chem Ltd    051910   KR7051910008

LG CHEM LTD (051910)
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LG Chem : to invest W1.2 tril. to expand battery plants in China

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01/11/2019 | 01:56pm EST

By Jun Ji-hye LG Chem will invest more to expand its battery plants in Nanjing, southeastern China, to strengthen its standing in the global market, the company said Thursday. The nation's leading battery and chemical company said it will spend 12 trillion won ($1 billion) by the end of 2020 ― 600 billion won each into its electric vehicle (EV) and small-sized battery plants.

The company signed a contract allowing for the expansion with the Nanjing local government, Wednesday. The investment is aimed at responding to rapidly increasing demand for pouch-type batteries for EVs and cylindrical batteries for cordless vacuum cleaners, power tools and light EVs such as e-bikes.

According to market researcher B3, global demand for cylindrical batteries will grow 27 percent annually and reach 6 billion next year 'Through the expansion of our plants, we will lead in the emerging light EV and power tools markets as well as the EV market,' said LG Chem Energy Solution Company President Kim Jong-hyun. 'We will use our three plants in Nanjing as export bases.

' .

(c) 2019 Korea Times Co. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (KRW)
Sales 2018 27 924 B
EBIT 2018 2 415 B
Net income 2018 1 646 B
Debt 2018 1 817 B
Yield 2018 1,65%
P/E ratio 2018 15,98
P/E ratio 2019 14,33
EV / Sales 2018 0,95x
EV / Sales 2019 0,88x
Capitalization 24 743 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 36
Average target price 450 214  KRW
Spread / Average Target 28%
EPS Revisions
Managers
NameTitle
Jin-Soo Park Vice Chairman & Chief Executive Officer
Ho-Young Chung President, Chief Financial Officer & Director
Jin-Nyeong Yoo President-Executive & Chief Technology Officer
Se-Jin Kim Outside Director
Bon-Joon Koo Vice Chairman
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LOTTE CHEMICAL CORP--.--%8 111
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