LG Energy Solution swings to Q4 profit

FILE PHOTO: An employee walks past the logo of LG Energy Solution at its office building in Seoul, South Korea, Nov. 23, 2021. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - South Korea's LG Energy Solution Ltd (LGES) said on Tuesday it swung to profit in the October-December quarter, though its electric vehicle (EV) battery demand was weaker than expected as automakers grapple with a global chip shortage https://www.reuters.com/business/autos-transportation/why-is-there-global-chip-shortage-why-should-you-care-2021-03-31.

The battery maker, which went public https://www.reuters.com/markets/europe/lg-energy-solution-debuts-after-13-trillion-frenzy-skoreas-biggest-ipo-2022-01-26 last month in the country's biggest ever IPO, posted an operating profit of 76 billion won ($63.5 million) for the fourth quarter, the company said in its maiden earnings report.