LGD, Recording Operating Loss of KRW 469.4 Billion in the First Quarter
NSP NEWS, By Soon-ki Lee and Bok-hyun Lee
ENX7, Read 0
(Seoul=NSP NEWS AGENCY) = On the 25th, LG Display announced its business performance for the first quarter of 2024, with sales of KRW 5.253 trillion and operating loss of KRW 469.4 billion.
Sales decreased compared to the previous quarter due to the off-season, but increased by 19% compared to the same period last year as shipments of TV and monitor panels expanded and mass production of OLED for IT began.
The loss narrowed year-on-year as the company continued to strengthen its OLED-centric business structure and implement intensive cost reduction activities. The sales proportion by product(based on sales) is 22% for TV panels, 40% for IT panels (monitors, laptop PCs, tablets, etc.), 28% for mobile panels and other products, and 10% for vehicle panels.
Sales decreased compared to the previous quarter due to the off-season, but increased by 19% compared to the same period last year as shipments of TV and monitor panels expanded and mass production of OLED for IT began.
The loss narrowed year-on-year as the company continued to strengthen its OLED-centric business structure and implement intensive cost reduction activities. The sales proportion by product(based on sales) is 22% for TV panels, 40% for IT panels (monitors, laptop PCs, tablets, etc.), 28% for mobile panels and other products, and 10% for vehicle panels.
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Operating loss was KRW 469.4 billion, net loss during the period was KRW 761.3 billion, and EBITDA(operating profit before amortization) was KRW 809.7 billion(profit margin 15.4%).
“Despite the uncertainty and volatility in the market and external environment, we will continue to strengthen our business competitiveness and future business foundation and secure a stable profit structure by expanding the proportion of OLED-centric high-end products, improving our cost structure, and focusing on operational efficiency,” said CFO (Chief Financial Officer) of LG Display.
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