Lg Display Co., Ltd · KRX:034220
Lg Display — LG.Philips LCD — Q2 2005 Earnings Presentation
23 slides from Lg Display's earnings presentation, Jul 11, 2005
Slide 1: Q2 05 Earnings Results
Appendix 2. IR Presentation Q2 05 Earnings Results July 11, 2005
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 pro
Slide 3: Agenda
Agenda Q2 05 Earnings Results Performance Highlights Outlook 32”W 37”W 42”W 47”W Paju-P7
Slide 4: Q2 Earnings Results
Q2 05 Earnings Results
Slide 5: Q2 Income Statement
Q2 05 Income Statement KRW b Q2 05 Q1 05 Q2 04 QoQ change YoY change 2,308 2,169 2,332 1,487 1,034 2,064 2,102 (38) (135) (157) (79) 12% 3% N/A N/A 64% N/A N/A (1%) 46% (84%) (96%) (57%) (100%) (94%) Revenue COGS Gross profit Operating income EBITDA Income before tax Net income Margin (%) (2) (7) (4
Slide 6: Q2 Balance Sheet
Q2 05 Balance Sheet KRW b Q2 05 Q1 05 Q2 04 QoQ change YoY change 11,844 1,331 6,131 2,957 5,713 8,377 4,140 1,649 4,237 11,035 1,350 5,351 2,479 5,684 7% (1%) (2%) 15% 15% 19% 1% 41% 138% 59% 48% 10% 79% 35% Assets Cash & equivalent Inventory Liabilities Short term debt Long term debt Shareholders’
Slide 7: Q2 Cash Flow
Q2 05 Cash Flow KRW b Q2 05 Q1 05 Q2 04 QoQ change YoY change Net income Depreciation & Amortization Others Working capital Cash flow from operations CAPEX Cash flow before financing Financing activities Net change in cash (123) (969) (596) (19) (46) (1,239) (280) (79) (270) (453) (370) (11) (516) (
Slide 8: Performance Highlights
Performance Highlights
Slide 9: Shipments and ASP
Shipments and ASP ASP**/m² (US$) Total k m² * 3,000 $4,000 $3,554 $3,500 2,500 $3,000 $2,857 2,000 $2,500 $2,304 $2,085 $2,062 1,500 $2,000 1,096 $1,500 1,000 $1,000 $500 $0 Q1 05 Q4 Q3 Q2 04 Q2 Total K m² ASP/m² Source: Company financials * Net display area shipped ** Quarterly average selling pric
Slide 10: Revenue: Product Mix
Revenue: Product Mix 4% 4% 5% 100% 13% 24% 22% 80% 23% 18% 18% 60% 40% 56% 53% 60% 20% 0% Q1 05 Q2 04 Q2 05 TV NBPC MNT APPL Source: Company financials
Slide 11: Q2 Capacity Update
Q2 05 Capacity Update P6 input capacity averaged 72 K per month for the quarter Unit: Quarterly input capacity by Area (k m² ) P6 P5 P4 P1~P3 Q105 Q4 Q3 Q204 Q2 Source: Company financials
Slide 12: Cash ROIC
Cash ROIC EBITDA margin Cash ROIC 45% 30% 19% 21% 13% 88% Q105 Q4 Q3 Q204 Q2 29% 42% 18% 25% Sales / IC* 197% Q105 Q4 Q3 Q204 140% Q2 134% 133% 136% K GAAP (Consolidated) Q105 Q4 Q3 Q204 Q2 Source: Unaudited, Company financials * IC (Invested Capital) equals average of net debt and equity for the de
Slide 13: Outlook
Outlook
Slide 14: Outlook
Outlook CAPEX schedule (KRW b) Total Shipments in m2 Q3 05 vs. Q2 05 : Mid teens (%) ASP per m2 End of Q3 05 vs. End of Q2 05 : Single digit (%) CAPEX 2006 (E) 3.5 to 4.5 trillion KRW 4,580 3,818 3,144 2,212 1,265 1,436 2005(E) P6 Others P7 Source: Company financials, Delivery basis
Slide 15: Questions and Answers
Questions and Answers
Slide 16: Appendix
Appendix
Slide 17: US GAAP Income Statement
US GAAP Income Statement KRW b Q2 05 Q1 05 Q2 04 QoQ change YoY change Revenue COGS Gross profit Operating income EBITDA Income before tax Net income 2,308 2,159 2,330 1,469 1,036 2,064 2,090 (26) (126) (148) (95) 12% 3% N/A N/A 61% N/A N/A (1%) 47% (83%) (95%) (58%) (100%) (95%) Margin (%) (1) (6)
Slide 18: US GAAP Balance Sheet
US GAAP Balance Sheet KRW b Q2 05 Q1 05 Q2 04 QoQ change YoY change Assets Cash & equivalent Inventory Liabilities Short term debt Long term debt Shareholders’ equity Net debt to equity ratio (%) 11,750 1,331 6,186 3,006 5,564 8,265 4,151 1,657 4,114 10,933 1,350 5,365 2,488 5,568 7% (1%) (2%) 15% 1
Slide 19: US GAAP Cash Flow
US GAAP Cash Flow KRW b Q2 05 Q1 05 Q2 04 QoQ change YoY change (31) (1,238) (279) (95) (242) (453) (370) (11) (516) (226) (8) (673) (93) (586) (317) (37) (124) (969) (596) (19) Net income Depreciation & Amortization Others Working capital Cash flow from operations CAPEX Cash flow before financing F
Slide 20: Net Income Reconciliation to US GAAP
Net Income Reconciliation to US GAAP KRW b Q2 05 Q1 05 Net income under K GAAP (79) (16) (1) (1) (1) (26) (1) (95) (3) (1) (1) (1) (4) (1) (4) (1) US GAAP adjustments Depreciation of PP&E Amortization of IPR Adjustment of AR discount loss Capitalization of financial interests Inventory valuation eff
Slide 21: EBITDA Reconciliation
EBITDA Reconciliation K GAAP (KRW b) Q2 05 Q1 05 Q2 04 QoQ change YoY change 1. Net income 2. Interest expense 3. Interest income 4. Provision (benefit) for income taxes 5. Depreciation of PP&E 6. Amortization of intangible asset 7. Amortization of debt issuance cost EBITDA (1+2-3+4+5+6+7) 1,034 (79
Slide 22: 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. EBITDA is a key financial measure
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: July 11, 2005