SEOUL, Korea (July 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 June 30, 2014.
◆ Revenues in the second quarter of 2014 increased by 7% to KRW 5,979 billion from KRW 5,588 billion in the first quarter of 2014 and decreased by 9% from KRW 6,572 billion in the second quarter of 2013.
◆ Operating profit in the second quarter of 2014 was KRW 163 billion, a quarter-on-quarter increase of 73% from an operating profit of KRW 94 billion and a year-on-year decrease of 55% from the operating profit of KRW 366 billion.
◆ EBITDA in the second quarter of 2014 was KRW 1,008 billion, a quarter-on-quarter decrease of 1% from KRW 1,015 billion and a year-on-year decrease of 24% from KRW 1,324 billion.
◆ Net income in the second quarter of 2014 was KRW 256 billion compared with net loss of KRW 82 billion in the first quarter of 2014 and net income of KRW 105 billion in the second quarter of 2013.
LG Display recorded an increase both in revenues and in operating profit in the second quarter of 2014 despite the recent sharp appreciation of the Korean currency. The company also posted its ninth straight quarterly operating profit at KRW 163 billion, a quarter-on-quarter increase of 73%, driven by seasonal demand growth, increased shipment for large-size panels such as for Ultra HD TVs, and price increases for some products.
LG Display shipped a total of 9.36 million square meters of net display area in the second quarter of 2014, an increase of 12% quarter-on-quarter. TFT-LCD panels for TVs, monitors, mobile applications, notebook PCs, and tablets accounted for 42%, 21%, 16%, 12%, and 9% respectively on a revenue basis in the second quarter of 2014.
With 96% in liability to equity ratio, 106% in current ratio, and 21% in net debt to equity ratio as of June 30, 2014, the financial structure of the company remains stable.
