From Investing.com:

South Korean battery firm LG Energy Solution (LGES) reported a 43% increase in quarterly profit, with operating profit reaching 338 billion won ($252.40 million) for the October-December period. Despite meeting company estimates, fourth-quarter profit dropped over half from the previous quarter due to weak demand for electric vehicles in Europe. LGES cites slowing global EV battery demand growth, OEMs’ conservative inventory control, and metal price decline as risk factors, alongside political uncertainties and changing EV transition plans by automakers. The company’s forecast aligns with Tesla’s warning of a sharp sales growth slowdown this year and Hyundai Motor Co’s flagging of slowing EV market sentiment. Quarterly revenue fell 6.3% year-on-year to 8 trillion won. Following the results, shares of LGES rose 2.6% in morning trade. ($1=1,339.1500 won)



Read more: Battery firm LG Energy Solution’s Q4 profit up 43% on higher US output By Reuters