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[Alpha Biz=(Chicago) Reporter Paul Lee] It turned into an operating loss last year due to L&F's slowing sales of electric vehicles and falling prices of raw materials such as lithium.
L&F announced on the 15th that it was tentatively tallied at 4.6 trillion won in consolidated sales and 224.1 billion won in operating losses last year. Sales rose 18.4% year-on-year, but operating profit turned to deficit.
The main cause of L&F's poor performance is inventory valuation losses.
At the end of the third quarter of last year, L&F's inventory assets, including lithium, amounted to 1.444 trillion won. Inventory assets, which stood at 100 billion won at the end of 2020, have exceeded 1 trillion won since 2022.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
