LG Display's operating profit surpassed 1 trillion won in the first quarter despite operating in off-peak season.
According to K-IFRS, LG Display reported sales of KRW7.62 trillion and operating profit of KRW1.26 trillion in the first quarter of 2017, according to K-IFRS.
Sales decreased 11% QoQ to W93.6 trillion QoQ due to a decrease in shipment area due to fewer days of operation and new product R & D, and a decrease in mobile portion. However, sales increased 18% from W5.8982 trillion in the same period of last year.
Operating profit increased 14% QoQ to W90.4bn and 2498% QoQ to W39.5bn due to profitability centered product mix operations, including large UHD TVs and high-resolution and high-end IT products.
Net income decreased 18% QoQ to W679.5bn and EBITDA reached W1.474tr (EBITDA margin of 24.7%).
LG Display said, "Despite shipment and price declines stemming from seasonal weakness in mobile phones, we revised up our record operating profit by operating a mix of profitable products, including large-sized TVs based on large-area trends and differentiated IT products based on IPS and Oxide. "He said.
In addition, TV panel sales accounted for 43%, mobile panel for 26%, notebook and tablet for 16%, and monitor panel for 15%
LG Display maintained a stable financial structure in 1Q11 with debt ratio of 81%, liquidity ratio of 140% and net debt ratio of 17%.
Kim Sang Don, chief financial officer of LG Display, said, "The shipment area in Q2 2017 is expected to be similar to the previous quarter, but TV shipments will continue to decline QoQ due to continued majorization. Overall stability will continue. "
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