'6 Consecutive Quarters of Losses'... LG Display Reports 2Q Operating Loss of 517 Billion KRW (Update)

[Asia Economy Reporter Dongwoo Lee] LG Display announced on the 23rd that its consolidated financial statements for the second quarter of 2020 showed sales of 5.307 trillion KRW, a 1% decrease compared to the same period last year. During the same period, it recorded an operating loss of 517 billion KRW and a net loss of 503.8 billion KRW.

LG Display stated that in 2020, due to global demand uncertainty and contraction in the upstream industries, production adjustments of panels for TV and mobile devices led to increased fixed cost burdens, and the decline in LCD panel prices compared to the previous quarter resulted in continued operating losses.

The sales composition by product in the second quarter showed that IT LCD panels accounted for 52% of total sales, surpassing 50% for the first time. Panels for notebooks and tablets accounted for 29%, monitor panels 23%, mobile panels 25%, and TV panels 23%.

Key financial indicators for LG Display in the second quarter were a debt ratio of 190%, a current ratio of 81%, and a net debt ratio of 91%.

This content was produced with the assistance of AI translation services.