LG Display Co., Ltd · KRX:034220
LG Display — Q1 2009 Earnings Presentation
20 slides from LG Display's earnings presentation, Apr 16, 2009
Slide 1: Q1 '09 Earnings Results
Q1 ’09 Earnings Results April 16, 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 WEL _ 1. Q1 09 Earnings Results 2. Performance Highlights 3. Outlook
Slide 4: Q1 '09 Earnings Results
ae wRening Q1 ’09 Earnings Results 3 @ LG Display
Slide 5: Revenues & Profit
Revenues & Profit Revenues Profit (Unit : KRW B) (Unit : KRW B, %) Q4 ’08 QoQ Q1 ’09 YoY Q1 ’08 5,000 12% Operating 9% Income -288 N/A -412 N/A 881 4,000 -7% -11% 22% 3,000 EBITDA* 250 -42% 144 -91% 1,566 6% 4% 39% 4,156 3,666 4,036 2,000 Income 1,000 before tax -844 N/A -372 N/A 915 Net Income -684
Slide 6: Balance Sheets & Financial Ratios
Balance Sheets & Financial Ratios Balance Sheets Financial Ratios (Unit : KRW B) (Unit : %) Q1 ’08 Q4 ’08 Q1 ’09 Q1 ’08 Q4 ’08 Q1 ’09 Assets 15,238 17,388 18,562 Current Assets 7,285 7,018 7,718 Liabilities to 110% Equity Ratio Cash* 2,988 3,423 3,566 87% 74% Inventory 1,031 1,137 1,193 Non-Current
Slide 7: Cash Flow
Cash Flow Net Cash Flow * Cash Flow (Unit : KRW B) (Unit : KRW B) Q1 ’09 Cash at the beginning of the 3,423 Quarter Cash Flow from Operating 1,142 255 Net Income Activities Others 412 Net Income (255) Depreciation & Amortization 556 Change in Change in Working Capital 429 Working 429 Capital CAPEX 1
Slide 8: Performance Highlights
ae wRening Performance Highlights 7 @ LG Display
Slide 9: Shipments and ASP
Shipments and ASP Total K m² * ASP/m² ** (USD) 5,000 $1,500 $1,339 4,000 $1,274 3,859 3,674 3,754 3,275 3,188 $1,000 3,000 $992 $766 2,000 $669 $500 1,000 0 $0 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09 * Net display area shipped Display area shipment in K m2 ** Quarterly average selling price per square me
Slide 10: Revenue: Product Mix
Revenue: Product Mix 100% 5% 5% 5% 5% APPL 18% 16% NBPC 26% 22% 20% 23% MNT 22% 26% 50% 57% 56% TV 51% 43% 0 Q2 ’08 Q3 ’08 Q4 ’08 Q1 ’09 Source: Company financials (USD Base) 9
Slide 11: Capacity
Capacity Quarterly input capacity by Area (K m² ) 6000 5,667 5,474 5,561 5,092 237 P8 5000 4,727 2,306 2,238 2,210 P7 4000 2,039 1,742 3000 1,560 1,634 P6 1,430 1,458 1,508 2000 639 653 694 724 667 P5 1000 490 517 546 561 517 P4 426 425 436 442 422 P1-P3 0 Q1 '08 Q2 '08 Q3 '08 Q4 '08 Q1 '09 Source:
Slide 12: Outlook
ae wRening Outlook 4 @ LG Display
Slide 13: Outlook
Outlook Q2 ’09 ► Total Shipment in m2 (QoQ) • Mid to high twenties (%) ► ASP • Gradual increase expected ► COGS per m2 (USD) • Mid single digit (%) 2009 ► CAPEX • Approximately KRW 2.5 trillion 12
Slide 14: Questions and Answers
ae wRening Questions and Answers 13 @ LG Display
Slide 15: Appendix
ae wRening Appendix 14 @ LG Display
Slide 16: K GAAP Income Statement
K GAAP Income Statement KRW bn Q1 ’09 Q4 ’08 Q1 ’08 QoQ Change YoY Change Revenues 3,666 4,156 4,036 -12% -9% COGS 3,827 4,188 2,973 -9% 29% Gross Profit -161 -32 1,063 N/A N/A Operating Income -412 -288 881 N/A N/A EBITDA 144 250 1,566 -42% -91% Income before Tax -372 -844 915 N/A N/A Net Income -2
Slide 17: K GAAP Balance Sheet
K GAAP Balance Sheet KRW bn Q1 ’09 Q4 ’08 Q1 ’08 QoQ Change YoY Change Assets 18,562 17,388 15,238 7% 22% Cash* 3,566 3,423 2,988 4% 19% Inventory 1,193 1,137 1,031 5% 16% Liabilities 9,712 8,100 6,480 20% 50% Short term debt 1,550 1,154 976 34% 59% Long term debt 2,466 2,733 3,038 -10% -19% Shareho
Slide 18: K GAAP Cash Flow
K GAAP Cash Flow KRW bn Q1 ’09 Q4 ’08 Q1 ’08 QoQ Change YoY Change Net Income -255 -684 717 429 -972 Depreciation & Amortization 556 538 685 18 -129 Others 412 330 83 82 329 Working Capital* 429 992 -412 -563 841 Cash Flow from Operating 1,142 1,176 1,073 -34 69 Activities Cash Flow from Investing -
Slide 19: EBITDA Reconciliation
EBITDA Reconciliation KRW bn Q1 ’09 Q4 ’08 Q1 ’08 QoQ Change YoY Change 1. Operating Income -412 -288 881 -124 -1,293 2. Depreciation of PP&E 546 527 671 19 -125 3. Amortization of Intangible Assets 10 11 14 -1 -4 EBITDA (1+2+3) 144 250 1,566 -106 -1,422 Source: Unaudited, Company financials K GAAP
Slide 20: Where Your Value Creation Begins
Where Your Value Creation Begins (lb LG Display www.lgdisplay.com