SEOUL, Korea (APR. 23, 2014) – 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 March 31, 2014.
Despite the fact that the first quarter of the year is normally regarded as an off-season, the company recorded an operating profit for the eighth consecutive quarter mainly due to cost reductions. Net income recorded a loss in the first quarter owing to the reduction of deferred tax assets.
The company shipped a total of 8.33 million square meters of net display area in the first quarter of 2014, a decrease of 13% quarter-on-quarter. LCD TV panels accounted for 41% of revenues in the first quarter of 2014, while monitors made up 20%, mobile applications 17%, notebook PCs 12% and tablets 10%.
With 102% in liability to equity ratio, 94% in current ratio, and 16% in net debt to equity ratio as of March 31, 2014, the financial structure of the company remains stable.
LG Display will start ramping up the M2 production line in the second half of this year to expand the OLED TV product line-up as well as the customer base. At the same time, LG Display will maintain its competitive advantage in the LCD business with its IPS and copper line technology. In addition, it will further strengthen its future competitiveness by expanding differentiated technologies, such as LTPS and plastic OLED.
