Slide 1: Q3 04 Earnings Results
Earnings Results October 11, 2004 Q3 04
Slide 2: Disclaimer
Forward-looking caution you that a number of We may also make written or oral forward-looking These statements are based on current We Additional information as to these and other As required by such rules, we have provided a GAAP measures, which is available on our under the file name 3Q Earnings P
Slide 3: Agenda
17.1”W 26”W 32”W 42”W unaudited, prepared by LG.Philips LCD Q3 04 Earnings Results Performance Highlights Outlook Source: 32”W 8 up P6 - Agenda
Slide 4: Q3 Earnings Results
a Q3 04 Earnings Results
Slide 5: Q3 04 Income Statement
Change (20%) 5% (62%) (67%) (45%) (68%) (58%) (19) (19) (14) (15) QoQ Change 12% 24% (25%) (30%) (13%) (33%) (15%) (8) (8) (9) (5) K GAAP (Consolidated) YoY 2,332 1,487 845 771 1,034 750 701 36 33 44 30 Q2 04 1,681 1,253 428 365 653 359 343 25 22 39 20 Q3 03 1,875 1,555 320 256 568 240 291 17 14 30
Slide 6: Q3 04 Balance Sheet
Change 16% 116% 53% (2%) 10% 0% 35% (20) QoQ Change 77% 597% 94% 29% (47%) 179% 141% (49) K GAAP (Consolidated) YoY 8,377 560 453 4,140 575 1,649 4,237 39 Q2 04 5,490 174 356 3,124 1,196 591 2,366 68 Q3 03 9,736 1,212 692 4,037 632 1,651 5,699 19 Q3 04 equity unaudited, prepared by LG.Philips LCD Q3
Slide 7: Q3 04 Cash Flow
Change (410) 40 (21) 276 (115) (195) (310) (247) 1,191 634 QoQ Change (52) 47 1 514 510 (1,048) (538) 103 1,191 756 K GAAP (Consolidated) YoY 701 281 23 (46) 959 (1,239) (280) 298 0 18 Q2 04 343 274 1 (284) 334 (386) (52) (52) 0 (104) Q3 03 291 321 2 230 844 (1,434) (590) 51 1,191 652 Q3 04 unaudite
Slide 8: Performance Highlights
Performance Highlights
Slide 9: Shipments and ASP
(US$) $4,000 $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $0 $2,857 560 Q3 $3,554 561 Q2 $3,512 531 Q1 04 $3,342 543 Q4 $3,133 455 Q3 Total K $2,929 367 Q2 LG.Philips LCD $2,782 295 Q1 03 Source: * Net display area shipped * Shipments and ASP Total K 1,000 800 600 400 200 0
Slide 10: Revenue: Product Mix
Q3 04 4% 14% 27% 55% APPL Q2 04 TV 4% 13% 23% 60% NBPC MNT 2% 11% 27% 60% Q3 03 LG.Philips LCD Revenue: Product Mix Source:
Slide 11: Capacity Update
• 11 • quarter the 5% for month approximately per 10K • Update by averaged increased Capacity capacity glass 04 input G5 P6 • Q3 •
Slide 12: Cash ROIC
62% 9mo 04 2003 54% K GAAP (Consolidated) 2002 ratios are annualized Cash ROIC 42% 13% 2001 9mo 04 40% 2003 154% 9mo 04 2003 35% 157% 2002 2002 39% 108% 2001 * Cash ROIC EBITDA margin 16% Sales / IC 80% 2001 Source: unaudited, prepared by LG.Philips LCD * IC (Invested Capital) equals average of net
Slide 13: Outlook
Outlook
Slide 14: Outlook: Large TFT-LCD Set Demand Forecast
2005 2005 11% 31% 58% 22% 21% 57% ) 7% 37% 56% 2004 13% 28% 59% 2004 TV 200 150 100 50 0 20,000 15,000 10,000 5,000 0 NBPC Q4 04 Q4 04 MNT Large TFT-LCD Set Demand Forecast by Units (M pcs) 8% 35% 57% Large TFT-LCD Set Demand Forecast by Area (K m 15% 26% 59% 8% 37% 55% Q3 04 13% 28% 59% Q3 04 Sourc
Slide 15: 04 & 05 CAPEX Plans
3,000 ~ 3,900 (Unit : KRW bn) P7 900 2005 3,900 ~ 4,800 P6 3,934 600 2,284 1,050 2004 Maintenance / Others LG.Philips LCD 04 & 05 CAPEX Plans Source:
Slide 16: Questions and Answers
Questions and Answers
Slide 17: Appendix
Appendix
Slide 18: US GAAP Income Statement
Change (20%) 5% (62%) (66%) (45%) (67%) (58%) (19) (19) (14) (15) QoQ Change 11% 24% (24%) (31%) (17%) (38%) (23%) (8) (9) (11) (7) YoY 2,330 1,469 861 773 1,036 759 711 37 33 44 31 Q2 04 1,681 1,248 433 383 689 404 387 26 23 41 23 Q3 03 1,874 1,543 331 265 571 251 298 18 14 30 16 Q3 04 unaudited, p
Slide 19: US GAAP Balance Sheet
Change 16% 116% 53% (3%) 10% 0% 36% (21) QoQ Change 78% 597% 95% 29% (48%) 180% 146% (53) YoY 8,265 560 451 4,151 576 1,657 4,114 41 Q2 04 5,407 174 355 3,141 1,214 592 2,266 72 Q3 03 9,623 1,212 691 4,047 632 1,658 5,576 19 Q3 04 equity unaudited, prepared by LG.Philips LCD US GAAP Balance Sheet KR
Slide 20: US GAAP Cash Flow
Change (413) 42 (17) 273 (115) (196) (311) (246) 1,191 634 QoQ Change (89) 47 28 519 505 (1,043) (538) 104 1,191 757 YoY 711 269 19 (40) 959 (1,238) (279) 297 0 18 Q2 04 387 264 (26) (286) 339 (391) (52) (53) 0 (105) Q3 03 311 2 233 844 (1,434) (590) 51 1,191 652 Q3 04 Cash proceeds from IPO unaudit
Slide 21: Net Income Reconciliation to US GAAP
1,620 28 (2) 28 2 8 1 (3) (1) (3) 0 1,648 Q1~Q3 04 291 7 (1) 9 1 2 1 (2) (1) (3) 0 298 Q3 04 Depreciation of PP&E Adjustment of AR discount loss Capitalization of financial interests Cash flow hedge account Pension expense Income tax effect of US GAAP Adjustments unaudited, prepared by LG.Philips LC
Slide 22: EBITDA Reconciliation
Change (410) 4 1 (99) 41 (1) 0 (466) Change (413) 4 1 (97) 42 0 0 (465) QoQ QoQ Change (52) (10) 3 (67) 47 0 0 (85) Change (89) (8) 3 (65) 46 1 0 (118) YoY YoY 701 8 4 48 269 12 0 1,034 711 10 4 49 267 2 1 1,036 Q2 04 Q2 04 343 22 2 16 263 11 0 653 387 22 2 17 263 1 1 689 Q3 03 Q3 03 291 12 5 (51) 3
Slide 23: EBITDA Reconciliation (Continued)
EBITDA is defined as net income (loss) plus: interest income (expense); provision (benefit) for income taxes; EBITDA is a key financial measure used by our senior management to internally evaluate the assets are in different stages of depreciation, and because we do not have separate operating divis
Slide 24: Signatures
LG.Philips LCD makes Technology you can see! SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. LG.Philips LCD Co., Ltd. (Registrant) By: /s/ R ON H. W IR