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.
