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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