The following is a summary of the LG Display Co., Ltd. (LPL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• LG Display reported a Q1 2024 revenue of KRW5.253 trillion, down 29% from the previous quarter but up 19% year-on-year due to improved shipments of OLED and LCD TV panels, monitor panels and the start of IT OLED mass production.

• Operational loss reduced year-on-year to KRW469 billion after shifting focus to an OLED-focused business and bettering its cost structure.

• The debt to equity ratio improved to 279%, a decrease of 29 percentage points from the previous quarter, while cash and equivalents were at KRW3.225 trillion.

Business Progress:

• LG Display began mass production of IT OLED panels, with significant increases in area shipments expected for Q2 due to increased shipments in medium and large products and IT OLED.

• The company's strategy focuses on improving business and cost structure and operational efficiency to establish a stable revenue structure.

• Efforts are being made to expand the customer portfolio in the large OLED market and enhance profitability through cost innovations and volume expansion.

• The company aims to strengthen its position in the auto OLED market by attracting new customers, orders, and revenue while CapEx is expected to be at a reduced KRW2 trillion level for the year.

More details: LG Display IR

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