LG Display Co., Ltd · KRX:034220
LG Display — Q3 2009 Earnings Presentation
17 slides from LG Display's earnings presentation, Oct 15, 2009
Slide 1: Q3 '09 Earnings Results
Q3 ’09 Earnings Results October 15, 2009
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements. We may also make written or oral forward-looking statements in our periodic reports to the United States Securities and Exchange Commission and the Korean Financial Supervisory Service, in our annual report to shareholders, in our p
Slide 3: Agenda
ws WEIL = 1. Q3 ’09 Earnings Results 2. Performance Highlights 3. Q4 ’09 Outlook
Slide 4: Revenue & Profit
Revenue & Profit Revenue Profit (Unit : KRW B) (Unit : KRW B, %) Q3 ’09 Q2 ’09 Q3 ’08 QoQ YoY 6,000 22% (QoQ) 55% (YoY) Operating 5,000 Income 904 218 254 315% 256% 15% 4% 7% 4,000 EBITDA* 1,690 938 874 80% 93% 3,000 28% 19% 23% 5,974 4,891 3,861 2,000 Income before Tax 671 350 310 92% 116% 1,000 Ne
Slide 5: Balance Sheet & Financial Ratios
Balance Sheet & Financial Ratios Balance Sheet Financial Ratios (Unit : KRW B) (Unit : %) Q3 ’09 Q2 ’09 Q3 ’08 Q3 ’08 Q2 ’09 Q3 ’09 Assets 18,578 18,179 17,827 Current Assets 7,980 7,480 8,914 Liabilities to Equity Ratio 99% Cash* 2,713 2,678 3,785 91% 80% Inventory 1,749 1,409 1,512 Non-Current Ass
Slide 6: Cash Flow
Cash Flow Q3 ’09 Cash at the Beginning of the Quarter 2,678 Cash Flow from Operating Activities 1,123 Others 314 Change in 536 Working Net Income 559 Capital Depreciation & Amortization 786 Change in Working Capital (536) Net Income 559 CAPEX & Others 314 764 Capital Investment Cash Flow from Invest
Slide 7: Shipments and ASP
Shipments and ASP Total K m² * ASP/m² (USD) 6,000 5,661 $1,200 5,007 $1,000 $992 4,000 3,859 3,754 $800 3,674 $833 $766 $739 $669 $600 2,000 $400 $200 0 $0 Q3 '08 Q4 '08 Q1 '09 Q2 '09 Q3 '09 * Net display area shipped Display area shipment in K m2 ASP per m2 (USD) Source: Company financials 6
Slide 8: Revenue: Product Mix
Revenue: Product Mix 100% 5% 5% 5% 4% Application 18% 16% 18% 19% NBPC 20% 23% 22% 22% MNT 50% 57% 56% 55% 55% TV 0 Q4 ’08 Q1 ’09 Q2 ’09 Q3 ’09 Source: Company financials (USD Base) 7
Slide 9: Capacity
Capacity Quarterly input capacity by Area (M m² ) 9 8.1 8 7.3 7 P8 6 5.7 5.6 5.5 5 P7 4 P6E 3 P6 2 1 P1-P5 0 Q3 '08 Q4 '08 Q1 '09 Q2 '09 Q3 '09 Source: Company financials 8
Slide 10: Outlook
Outlook Q4 ’09 ► Total Shipment per m2 • High single digit (%) QoQ ► ASP per m2 • Gradual decrease expected ► COGS per m2 (USD) • Similar level as Q3 2009 ► CAPEX • Approx. KRW 3.5 trillion 9
Slide 11: Questions and Answers
ae wRening Questions and Answers 10 @ LG Display
Slide 12: Appendix
ae wRening Appendix u @ LG Display
Slide 13: K GAAP Income Statement
K GAAP Income Statement KRW bn Q3 ’09 Q2 ’09 Q3 ’08 QoQ Change YoY Change Revenue 5,974 4,891 3,861 22% 55% COGS 4,799 4,400 3,373 9% 42% Gross Profit 1,175 491 488 139% 141% Operating Income 904 218 254 315% 256% EBITDA 1,690 938 874 80% 93% Income before Tax 671 350 310 92% 116% Net Income 559 302
Slide 14: K GAAP Balance Sheet
K GAAP Balance Sheet KRW bn Q3 ’09 Q2 ’09 Q3 ’08 QoQ Change YoY Change Assets 18,578 18,179 17,827 2% 4% Cash* 2,713 2,678 3,785 1% -28% Inventory 1,749 1,409 1,512 24% 16% Liabilities 8,840 9,029 7,944 -2% 11% Short term debt 1,760 2,053 1,257 -14% 40% Long term debt 1,842 1,965 2,922 -6% -37% Shar
Slide 15: K GAAP Cash Flow
K GAAP Cash Flow KRW bn Q3 ’09 Q2 ’09 Q3 ’08 QoQ Change YoY Change Net Income 559 302 295 257 264 Depreciation & Amortization 786 720 620 66 166 Others 314 -152 245 466 69 Working Capital* -536 -697 -47 161 -489 Cash Flow from Operating 1,123 173 1,113 950 10 Activities Cash Flow from Investing -764
Slide 16: EBITDA Reconciliation
EBITDA Reconciliation KRW bn Q3 ’09 Q2 ’09 Q3 ’08 QoQ Change YoY Change 1. Operating Income 904 218 254 686 650 2. Depreciation of PP&E 774 709 604 65 170 3. Amortization of Intangible Assets 12 11 16 1 -4 EBITDA (1+2+3) 1,690 938 874 752 816 Source: Unaudited, Company financials K GAAP (Consolidate
Slide 17: Where Your Value Creation Begins
Where Your Value Creation Begins (lb LG Display www.lgdisplay.com