LG Display Returns to Quarterly Profit After One Year

LG Display turned to a quarterly profit after one year. On the 22nd, LG Display announced that its operating profit for the fourth quarter of last year, on a consolidated basis, turned to a profit of 83.1 billion KRW, and sales increased by 6% compared to the same period last year, reaching 7.8328 trillion KRW.

For the year, it recorded an operating loss of 560.6 billion KRW, but accelerated business normalization by reducing the operating loss by 1.9495 trillion KRW compared to the previous year (operating loss of 2.5102 trillion KRW). During the same period, sales increased by 25%, from 21.3308 trillion KRW to 26.5153 trillion KRW.

The net loss for the period was 2.4093 trillion KRW. The proportion of OLED (organic light-emitting diode) products in total sales was 55%, expanding by 7 percentage points (p) compared to the previous year. LG Display explained, "In terms of profitability, we were able to significantly reduce the scale of losses compared to the previous year by expanding business performance centered on OLED and focusing company-wide on cost reduction activities and operational efficiency."

EBITDA (earnings before interest, taxes, depreciation, and amortization) was 4.565 trillion KRW (profit margin 17.2%), an increase of 168% compared to the previous year. In the fourth quarter, shipments of OLED panels for smartphones increased, and the proportion of OLED products reached a record high of 60%. The sales proportion by product was ▲ TV panels 22% ▲ IT panels (monitors, notebook PCs, tablets, etc.) 28% ▲ mobile panels and other products 42% ▲ automotive panels 8%. LG Display plans to strengthen core competencies across all OLED business areas to enhance customer trust, and to improve business performance and management results by promoting cost innovation and operational efficiency.

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