Latest News

LG Display, a leading innovator of display technology, reported today unaudited earnings results based on consolidated K-IFRS (International Financial Reporting Standards) for the three-month period ending December 31, 2012.

• Sales in the fourth quarter of 2012 increased by 15% to KRW 8,743 billion from KRW 7,593 billion in the third quarter of 2012, and increased by 32% compared with KRW 6,610 billion in the fourth quarter of 2011.
• Operating profit in the fourth quarter of 2012 increased by 98% to KRW 587 billion from KRW 297 billion in the third quarter of 2012. This compares with operating loss of KRW 155 billion in the fourth quarter of 2011.
• EBITDA in the fourth quarter of 2012 was KRW 1,814 billion, an increase of 22% from KRW 1,485 billion in the third quarter of 2012, and a year-on-year increase of 116% from KRW 840 billion in the fourth quarter of 2011.
• Net income in the fourth quarter of 2012 increased by 102% to 319 billion in the fourth quarter of 2012 from net income of KRW 158 billion in the third quarter of 2012. This compares with net loss of KRW 6 billion in the fourth quarter of 2011.

LG Display posted a record high in quarterly sales at KRW 8,743 billion, as well as record high annual sales of KRW 29,430 billion, an increase of 21% from KRW 24,291 billion in 2011, through an expanding portion of differentiated premium products as well as favorable growth in demand.

“LG Display achieved record high results through the strength of its specialty products such as high resolution IPS panels and FPR 3D,” said Dr. Sang Beom Han, CEO of LG Display. “With recent innovative products like the world’s first ULTRA HD  LCD TV panels as well as 55-inch OLED TVs, we will continue to strengthen our leadership in the industry and maximize customer value.”

The company shipped a total of 10.06 million square meters of net display area in the fourth quarter of 2012, an increase of 10% quarter-on-quarter.

TFT-LCD panels for TVs, monitors, notebook PCs, tablets and mobile applications accounted for 43%, 16%, 10%, 17% and 14%, respectively, on a revenue basis in the fourth quarter.

With KRW 2,654 billion in cash and cash equivalents and 18% in Net Debt to Equity Ratio as of December 31, 2012, the financial structure of the company remains stable.

Outlook

The following expectations are based on information as of December 31, 2012. The Company does not expect to update its expectations until next quarter’s earnings announcement. However, the Company reserves the right to update its full business outlook, or any portion thereof, at any time and for any reason.

“Total display area shipment in the first quarter of 2013 is expected to decrease by mid teen percentage compared to the fourth quarter of 2012 due to seasonal factors. However the price decline range is anticipated to be limited as a proactive utilization adjustment is expected for the overall industry,” said James Jeong, CFO of LG Display. “During this period, we will remain committed in our efforts toward profitability enhancement, as well as optimizing overall resource operations to further strengthen our competitiveness.”

Note:

The Company has applied the amendments to K-IFRS No. 1001, Presentation of financial statements, in preparing these financial statements for the year ended December 31, 2012 and 2011. The Company presents operating profit or loss as an amount of sales less cost of sales and selling and administrative expense including research and development expenses on the face of the statement of comprehensive income. The Company applies the amendment retroactively and restates the statements of comprehensive income for the years ended December 31, 2011.

Earnings Conference and Conference Call

LG Display will hold a Korean language earnings conference on January 24, 2013, at 4 p.m. Korea Standard Time at the Auditorium (B1), Twin Towers, East Wing, Yeouido, Seoul, Korea. An English language conference call will follow at 10:00 p.m. Korea Standard Time, 8:00 a.m. EDT and 1:00 p.m. GMT. The call-in number is +82 (0)31-810-3061 both for callers in Korea and callers outside of Korea. The confirmation number is 9999#. Corresponding slides will be available at the Investor Relations section of the LG Display web site: www.lgdisplay.com.

Investors can listen to the conference call via the Internet at www.lgdisplay.com. To listen to the live call, please go to the Investor Relations section of the web site at least 15 minutes prior to the call to register and install any necessary audio software.

For those who are unable to participate in the call, a replay will be available for 30 days after the call. The call-in number is +82 (0)31-931-3100 both for callers in Korea and callers outside of Korea. The confirmation number for the replay is 109471#. Please receive your personal pincode prior to the conference call at http://pin.teletogether.com/eng; please insert 9999 on the main page to receive a personal pincode.