Lg Display Co., Ltd · KRX:034220
Lg Display — LG.Philips LCD — Q4 2006 Earnings Presentation
24 slides from Lg Display's earnings presentation, Jan 16, 2007
Slide 1: Q4 06 Earnings Results
Q4 06 Earnings Results Q4 06 Earnings Results January 16, 2007 Attachment 2. Presentation Material
Slide 2: Disclaimer
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,
Slide 3: Agenda
Agenda Agenda Q4 06 Earnings Results Performance Highlights Outlook Gen 5.5 located in P8 47”W 32”W 37”W 42”W
Slide 4: Q4 Earnings Results
Q4 06 Earnings Results Q4 06 Earnings Results
Slide 5: Q4 Earnings Results
Q4 06 Earnings Results Q4 06 Earnings Results
Slide 6: Income Statement
Income Statement Margin (%) Q4 06 Q3 06 QoQ Q4 05 YoY KRW b YoY 2005 2006 Income Statement Revenue COGS Gross profit Operating income EBITDA Income before tax Net income 3% 26% NA NA (32%) NA NA 11% 2% NA NA 89% NA NA Gross margin Operating margin EBITDA margin Net margin Source: Unaudited, Company
Slide 7: Balance Sheet
Balance Sheet Q4 06 Q3 06 QoQ Q4 05 YoY KRW b Balance Sheet Assets Cash and cash equivalents Inventory Liabilities Short-term debt Long-term debt Shareholders’ equity Net debt to equity ratio (%) (1%) (40%) 52% 10% 9% 17% (10%) (2%) 102% (8%) (1%) 21% (13%) (3%) (11) K GAAP (Consolidated) Source: Un
Slide 8: Cash Flow
Cash Flow Q4 06 Q3 06 QoQ Q4 05 YoY KRW b 2005 YoY 2006 Cash Flow Net income Depreciation & Amortization Others Net change in working capital Cash flow from operations CAPEX Cash flow before financing Financing activities Proceeds from issuance of common stock Net change in cash K GAAP (Consolidated
Slide 9: Performance Highlights
Performance Highlights Performance Highlights
Slide 10: Shipments and ASP
Shipments and ASP Shipments and ASP Total K m² * ASP**/m² (USD) Source: Company financials * Net display area shipped ** Quarterly average selling price per square meter of net display area shipped Display area shipment in K m ² ASP per m ² (USD) 1,343 1,274 1,485 1,993 2,275 $2,112 $1,953 $1,598 $1
Slide 11: Revenue: Product Mix
Revenue: Product Mix 34% 48% 21% 24% 4% 5% 48% 21% 4% Q4 05 Q3 06 Q4 06 Revenue: Product Mix Source: Company financials (Based on USD) Notebooks Monitors TVs Applications 38% 26% 27%
Slide 12: Q4 06 Capacity Update
Q4 06 Capacity Update 412 424 421 409 368 367 359 389 929 1,082 1,082 1,092 412 418 1,211 Q4 06 Capacity Update P7 has achieved an average of 78K input sheets per month for the quarter Source: Company financials Unit: Quarterly input capacity by Area (K m² ) P1-P3 P4 P5 P6 P7 1,000 2,000 3,000 Q4 05
Slide 13: Cash ROIC
Cash ROIC Cash ROIC Source: Unaudited, Company financials * IC (Invested Capital) equals average of net debt and equity for the designated period; Quarterly ratios are annualized K GAAP (Consolidated) EBITDA margin Sales / IC* Cash ROIC 18% 28% 142% 124% 23% 39% Q4 05 Q1 06 Q2 27% 112% 30% Q3 10% 98
Slide 14: Outlook
Outlook Outlook
Slide 15: Outlook
Outlook Capex Schedule (KRW b) Outlook Source: Company financials, delivery base Capex Schedule (KRW b) 1,064 1,221 Others P7 Future production facilities 2,834 1,015 Total Shipments in m ² Q1 07 vs. Q4 06 : Mid-single digit (%) ASP per m ² shipped End of Q1 07 vs. End of Q4 06, Average Q1 07 vs. Av
Slide 16: Questions and Answers
Questions and Answers Questions and Answers
Slide 17: Appendix
Appendix Appendix
Slide 18: US GAAP Income Statement
US GAAP Income Statement Margin (%) Q4 06 Q3 06 QoQ Q4 05 YoY KRW b YoY 2005 2006 US GAAP Income Statement Revenue COGS Gross profit Operating income EBITDA Income before tax Net income 3% 25% NA NA (65%) NA NA 11% 2% NA NA 93% NA NA Gross margin Operating margin EBITDA margin Net margin Source: Una
Slide 19: US GAAP Balance Sheet
US GAAP Balance Sheet Q4 06 Q3 06 QoQ Q4 05 YoY KRW b US GAAP Balance Sheet Assets Cash and cash equivalents Inventory Liabilities Short-term debt Long-term debt Shareholders’ equity Net debt to equity ratio (%) (1%) 102% (8%) (1%) 21% (13%) (2%) (11) Source: Unaudited, Company financials 13,496 1,0
Slide 20: US GAAP Cash Flow
US GAAP Cash Flow Q4 06 Q3 06 QoQ Q4 05 YoY KRW b 2005 YoY 2006 US GAAP Cash Flow Net income Depreciation & Amortization Others Net change in working capital Cash flow from operations CAPEX Cash flow before financing Other financing activities Proceeds from issuance of common stock Net change in cas
Slide 21: Net Income Reconciliation to US GAAP
Net Income Reconciliation to US GAAP 2005 2006 Q4 06 Q3 06 KRW b Net Income Reconciliation to US GAAP Source: Unaudited, Company financials Cash flow hedge Others Convertible bonds (including FX valuation) Stock appreciation right ESOP Pension expense Income tax effect of US GAAP Adjustments Amortiz
Slide 22: EBITDA Reconciliation
EBITDA Reconciliation 2005 Q4 05 Q3 06 YoY 2006 Q4 06 YoY QoQ K GAAP (KRW bn) 2005 Q4 05 Q3 06 YoY 2006 Q4 06 YoY QoQ US GAAP (KRW bn) EBITDA Reconciliation 2,215 1,747 (148) (51) (19) (14) (101) (5) (321) (448) (104) (1,286) 1,767 2,593 (252) (29) (769) (38) (5) (174) (265) (4) (19) (502) (6) EBITD
Slide 23: EBITDA Reconciliation (Continued)
EBITDA Reconciliation (Continued) EBITDA Reconciliation (Continued) EBITDA is defined as net income (loss) plus: interest income (expense); provision (benefit) for income taxes; depreciation of property, plant and equipment; amortization of intangible assets; and amortization of debt issuance cost.
Slide 24: LG.Philips LCD makes Technology you can see!
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) Date: January 16, 20