lg display co ltd-adr (LPL) Key Developments
LG. Display Co., Ltd. Appoints Sang Don Kim as Director
Mar 10 14
On March 7, 2014, LG. Display Co., Ltd. held its 29th Annual General Meeting of shareholders for the fiscal year 2013. The meeting approved the appointment of Sang Don Kim as Director. His present position is CFO, LG Display.
LG Display Co., Ltd., Board Meeting, Feb 12, 2014
Feb 12 14
LG Display Co., Ltd., Board Meeting, Feb 12, 2014. Agenda: To approve and ratified to convene the 29th Annual General Meeting of Shareholders for the fiscal year of 2013.
LG Display Co., Ltd., Annual General Meeting, Mar 07, 2014
Feb 12 14
LG Display Co., Ltd., Annual General Meeting, Mar 07, 2014., at 09:30 Korea Standard Time. Location: Guest House, LG Display Paju Display Cluster 1007. Agenda: To consider the audit committee's audit report, appointment of external auditor, fiscal year 2013 business report; to approve consolidated and separate the financial statements as of and for the fiscal year ended December 31, 2013, appointment of directors, appointment of audit committee member, remuneration limit for directors in 2014; and to consider the resolution of board of directors.
LG Display Co., Ltd. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2013; Provides Earnings Guidance for the First Quarter of 2014
Jan 23 14
LG Display Co., Ltd. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported that revenues decreased by 19% to KRW 7,079 billion from KRW 8,743 billion in the fourth quarter of 2012 and increased by 8% from KRW 6,579 billion in the third quarter of 2013. Operating profit was KRW 257 billion, a year-on-year decrease of 56% from the operating gain of KRW 587 billion and a quarter-on-quarter decrease of 34% from the operating gain of KRW 389 billion. Income before tax was KRW 225 billion compared to KRW 503 billion a year ago. EBITDA in the fourth quarter of 2013 was KRW 1,124 billion, a year-on-year decrease of 38% from KRW 1,814 billion and a quarter-on-quarter decrease of 12% from KRW 1,281 billion. Net income was KRW 71 billion compared with net income of KRW 320 billion in the fourth quarter of 2012, and net income of KRW 239 billion in the third quarter of 2013. The company posted a quarter-on-quarter revenue increase of 8% in the fourth quarter driven by strong seasonal demand towards the year end, strong sales of large-sized TVs in China, and increased seasonal shipments of small-to medium-size panels. Operating profit was maintained for a seventh consecutive quarter, although there was a quarter-on-quarter decline in the fourth quarter due to a continuous price decrease for TV panels that started in the third quarter. Pretax profit was KRW 225 billion.
For the year, the company reported an operating profit of KRW 1,163,314,395,000 in 2013 compared to KRW 912,367,722,000 a year ago, up by 28%, achieving an annual operating profit of more than KRW 1 trillion for the first time in three years. This was realized mainly by steady demand from TV manufacturing customers, and expanded sales of premium products such as small- to medium-size panels driven by a product differentiation strategy. Revenues were KRW 27,033,035,360,000 compared to KRW 29,429,668,071,000 a year ago. Income before income tax was KRW 830,305,254,000 compared to KRW 458,524,968,000 a year ago. Net income was KRW 418,973,184,000 compared to KRW 236,345,460,000 a year ago. Cash flow from operating activities resulted in cash inflow of KRW 592 billion.
The company provided earnings guidance for the first quarter of 2014. Looking ahead, the company expects profits in the first quarter of 2014 to decline quarter-on-quarter due to traditional seasonal decline in panel shipments and price.
LG Display Co., Ltd. to Report Q4, 2013 Results on Jan 23, 2014
Jan 21 14
LG Display Co., Ltd. announced that they will report Q4, 2013 results at 4:00 PM, Korea Standard Time on Jan 23, 2014