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.
