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LG Display, the world’s leading innovator of display technologies, reported today unaudited earnings results based on consolidated K-IFRS (International Financial Reporting Standards) for the three-month period ending June 30, 2013.

• Revenues in the second quarter of 2013 decreased by 5% to KRW 6,572 billion from KRW 6,910 billion in the second quarter of 2012 and decreased by 3% from KRW 6,803 billion in the first quarter of 2013.
• Operating profit in the second quarter of 2013 was KRW 366 billion, a year-on-year increase of 53% from the operating gain of KRW 239 billion and a quarter-on-quarter increase of 142% from the operating gain of KRW 151 billion.
• EBITDA in the second quarter of 2013 was KRW 1,325 billion, a year-on-year increase of 2% from KRW 1,304 billion and a quarter-on-quarter increase of 4% from KRW 1,269 billion.
• Net income in the second quarter of 2013 was KRW 105 billion compared with net loss of KRW 112 billion in the second quarter of 2012, and net income of KRW 3 billion in the first quarter of 2013.

LG Display posted its fifth-straight quarterly operating profit at KRW 366 billion in the second quarter of 2013, an increase in operating profit both year-on-year and quarter-on-quarter. This is the outcome of a strategic and constant approach to differentiated specialty products resulting in increased sales of large-sized specialty TV products, as well as continuous effort to enhance cost competitiveness.

“With differentiated specialty products based on IPS technology, LG Display was able to lead the market and to achieve growth in operating profit overcoming seasonal factors,” said Dr. Sang Beom Han, CEO of LG Display. “While placing continual importance on maximizing customer value, LG Display will make full-fledged efforts to secure future competitiveness as an industry leader.”

The company shipped a total of 8.89 million square meters of net display area in the second quarter of 2013, an increase of 9% quarter-on-quarter.

TFT-LCD panels for TVs, monitors, notebook PCs, tablets and mobile applications accounted for 51%, 21%, 11%, 7% and 10%, respectively, on a revenue basis in the second quarter of 2013.

With 118% in liability to equity ratio, 113% in current ratio, and 11% in net debt to equity ratio as of June 30, 2013, the financial structure of the company remains stable.

Outlook

The following expectations are based on information as of June 30, 2013. 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 third quarter of 2013 is expected to increase by a low to mid single digit percent growth rate compared to the second quarter of 2013, with the seasonal demand growth in the third quarter, and panel prices anticipated to stabilize from mid-quarter after an expected short-term decrease in price,” said James Jeong, CFO of LG Display. “LG Display will step up its constant efforts to strengthen its differentiated strategy by increasing per-unit values and expanding shipments.”

Note: Estimates contained in this statement are based in accordance with the amendment to K-IFRS 1001. Operating profit is defined as surplus after cost of sales and operating costs are deducted from total revenue.

Earnings Conference and Conference Call

LG Display will hold a Korean language earnings conference on July 18, 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 9:00 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 109481#. 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.