Lg Display Co., Ltd · KRX:034220
Lg Display — LG.Philips LCD — Q1 2006 Earnings Presentation
23 slides from Lg Display's earnings presentation, Apr 11, 2006
Slide 1: Q1 06 Earnings Results
Q1 06 Earnings Results Q1 06 Earnings Results April 11, 2006 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 Q1 06 Earnings Results Performance Highlights Outlook 47”W 32”W 37”W 42”W Paju-P7 Substrate
Slide 4: Q1 Earnings Results
Q1 06 Earnings Results Q1 06 Earnings Results
Slide 5: Q1 06 Income Statement
Q1 06 Income Statement Margin (%) Q1 06 Q4 05 Q1 05 QoQ change YoY change KRW b Q1 06 Income Statement Revenue COGS Gross profit Operating income EBITDA Income before tax Net income 20% 9% NA NA 149% NA NA (17%) (7%) (65%) (84%) (19%) (95%) (85%) Gross margin Operating margin EBITDA margin Net margi
Slide 6: Q1 06 Balance Sheet
Q1 06 Balance Sheet Q1 06 Q4 05 Q1 05 QoQ change YoY change KRW b Q1 06 Balance Sheet Assets Cash & equivalent Inventory Liabilities Short term debt Long term debt Shareholders’ equity Net debt to equity ratio (%) 24% (21%) 46% 12% 25% 18% 36% 0% (33%) 56% 0% (9%) 4% 1% K GAAP (Consolidated) Source:
Slide 7: Q1 06 Cash Flow
Q1 06 Cash Flow Q1 06 Q4 05 Q1 05 QoQ change YoY change KRW b Q1 06 Cash Flow Net income Depreciation & Amortization Others 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 8: Performance Highlights
Performance Highlights Performance Highlights
Slide 9: 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 m ² (k) ASP per m ² (USD) 1,000 2,000 3,000 Q1 05 Q2 Q3 Q4 Q1 06 $0 $1,000 $2
Slide 10: Revenue: Product Mix
Revenue: Product Mix 4% 18% 22% 4% 24% 34% 5% 20% 45% Revenue: Product Mix Source: Company financials Notebooks Monitors TV Applications Q1 05 Q4 05 Q1 06 56% 38% 30%
Slide 11: Q1 Capacity Update
Q1 06 Capacity Update Q1 06 Capacity Update P7 has achieved an average of 16K per month for the quarter Unit: Quarterly input capacity by Area (k m² ) Source: Company financials P1~P3 P4 P5 P6 1,000 1,500 2,000 2,500 Q1 05 Q2 Q3 Q4 Q1 06 P7 3,000
Slide 12: 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 25% 19% 13% 28% Q105 Q2 Q3 Q4 142% 134% 133% 141% 35% 25% 18%
Slide 13: Outlook
Outlook Outlook
Slide 14: Outlook
Outlook Capex schedule (KRW b) Outlook Total Shipments in m ² Q2 06 vs. Q1 06 : Mid to high twenties (%) ASP per m ² shipped End of Q2 06 vs. End of Q1 06 : Mid-to-high single digit (%) EBITDA Margin Q2 06 : Approx. 20% CAPEX 2006 (E) 4.2 trillion KRW Source: Company financials, Delivery basis 1,211
Slide 15: Questions and Answers
Questions and Answers Questions and Answers
Slide 16: Appendix
Appendix Appendix
Slide 17: US GAAP Income Statement
US GAAP Income Statement Margin (%) Q1 06 Q4 05 Q1 05 QoQ change YoY change KRW b US GAAP Income Statement Revenue COGS Gross profit Operating income EBITDA Income before tax Net income Gross margin Operating margin EBITDA margin Net margin Source: Unaudited, Company financials 20% 10% N/A N/A 153%
Slide 18: US GAAP Balance Sheet
US GAAP Balance Sheet Q1 06 Q4 05 Q1 05 QoQ change YoY change KRW b US GAAP Balance Sheet Assets Cash & equivalent Inventory Liabilities Short term debt Long term debt Shareholders’ equity Net debt to equity ratio (%) Source: Unaudited, Company financials 10,933 1,350 5,365 2,488 5,568 25% (21%) 46%
Slide 19: US GAAP Cash Flow
US GAAP Cash Flow Q1 06 Q4 05 Q1 05 QoQ change YoY change KRW b US GAAP Cash Flow Net income Depreciation & Amortization Others Working capital Cash flow from operations CAPEX Cash flow before financing Financing activities Proceeds from issuance of common stock Net change in cash Source: Unaudited,
Slide 20: Net Income Reconciliation to US GAAP
Net Income Reconciliation to US GAAP Q1 06 Q4 05 KRW b Net Income Reconciliation to US GAAP Convertible bonds (including FX valuation) Stock appreciation right ESOP Pension expense Income tax effect of US GAAP adjustments Amortization of IPR Depreciation of PP&E Capitalization of financial interests
Slide 21: EBITDA Reconciliation
EBITDA Reconciliation Q1 06 Q4 05 Q1 05 QoQ change YoY change US GAAP (KRW b) Q1 06 Q4 05 Q1 05 QoQ change YoY change K GAAP (KRW b) EBITDA Reconciliation 1. Net income 2. Interest expense 3. Interest income 4. Provision (benefit) for income taxes 5. Depreciation of PP&E 6. Amortization of intangibl
Slide 22: 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 23: 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: April 11, 2006