Lg Display Co., Ltd · KRX:034220
Lg Display — LG.Philips LCD — Q3 2006 Earnings Presentation
23 slides from Lg Display's earnings presentation, Oct 10, 2006
Slide 1: Q3 06 Earnings Results
Q3 06 Earnings Results Q3 06 Earnings Results October 10, 2006 Attachment 2. Presentation Material
Slide 2: Disclaimer
Disclaimer Disclaimer This presentation contains forward-looking statements. We may also make written or oral forward-looking statements in our periodic reports to the United States Securities and Exchange Commission and the Korean Financial Supervisory Service, in our annual report to shareholders,
Slide 3: Agenda
Agenda Agenda Q3 06 Earnings Results Performance Highlights Outlook Gen 5.5 located in P8 47”W 32”W 37”W 42”W
Slide 4: Q3 Earnings Results
Q3 06 Earnings Results Q3 06 Earnings Results
Slide 5: Q3 06 Income Statement
Q3 06 Income Statement Margin (%) Q3 06 Q2 06 Q3 05 QoQ change YoY change KRW b Q3 06 Income Statement Revenue COGS Gross profit Operating income EBITDA Income before tax Net income 1% 28% NA NA (57%) NA NA 20% 19% NA NA 21% NA NA Gross margin Operating margin EBITDA margin Net margin Source: Unaudi
Slide 6: Q3 06 Balance Sheet
Q3 06 Balance Sheet Q3 06 Q2 06 Q3 05 QoQ change YoY change KRW b Q3 06 Balance Sheet Assets Cash and cash equivalents Inventory Liabilities Short-term debt Long-term debt Shareholders’ equity Net debt to equity ratio (%) 1% (78%) 58% 7% (15%) 35% (3%) (1%) (39%) (10%) 3% (15%) 12% (5%) K GAAP (Cons
Slide 7: Q3 Cash Flow
Q3 06 Cash Flow Q3 06 Q2 06 Q3 05 QoQ change YoY change KRW b Q3 06 Cash Flow Net income Depreciation & Amortization Others Net change in working capital Cash flow from operations CAPEX Cash flow before financing Financing activities Proceeds from issuance of common stock Net change in cash K GAAP (
Slide 8: Performance Highlights
Performance Highlights Performance Highlights
Slide 9: Shipments and ASP
Shipments and ASP Shipments and ASP Total K m² * ASP**/m² (USD) Source: Company financials * Net display area shipped ** Quarterly average selling price per square meter of net display area shipped Display area shipment in K m ASP per m (USD) 1,248 1,343 1,274 1,485 1,993 $2,121 $2,112 $1,953 $1,598
Slide 10: Revenue: Product Mix
Revenue: Product Mix 29% 48% 21% 22% 4% 5% 48% 21% 5% Q3 05 Q2 06 Q3 06 Revenue: Product Mix Source: Company financials (Based on USD) Notebooks Monitors TVs Applications 45% 26% 26%
Slide 11: Q3 06 Capacity Update
Q3 06 Capacity Update 405 412 424 421 409 362 368 367 359 389 838 929 1,082 1,082 1,092 Q3 06 Capacity Update P7 has achieved an average of 52K input sheets per month for the quarter Source: Company financials P1-P3 P4 P5 P6 P7 1,000 1,500 2,000 2,500 3,000 Q3 05 Q4 Q1 06 Q2 Unit: Quarterly input ca
Slide 12: Cash ROIC
Cash ROIC Cash ROIC Source: Unaudited, Company financials * IC (Invested Capital) equals average of net debt and equity for the designated period ; Quarterly ratios are annualized K GAAP (Consolidated) EBITDA margin Sales / IC* Cash ROIC 25% 28% 142% 141% 35% 39% Q3 05 Q4 Q1 06 Q2 27% 112% 30% Q3 10
Slide 13: Outlook
Outlook Outlook
Slide 14: Outlook
Outlook Capex schedule (KRW b) Outlook Source: Company financials, Delivery basis 1,211 3,208 1,114 1,245 2006 (E) Others P7 Future production facilities 4,419 3,035 Total Shipments in m 2 Q4 06 vs. Q3 06 : Mid twenties (%) ASP per m shipped End of Q4 06 vs. End of Q3 06 : Low-single digit (%) – TV:
Slide 15: Questions and Answers
Questions and Answers Questions and Answers
Slide 16: Appendix
Appendix Appendix
Slide 17: US GAAP Income Statement
Margin (%) YoY Change QoQ Change Q3 05 Q2 06 Q3 06 KRW b US GAAP Income Statement (20) (13) (11) Net Margin (14) EBITDA Margin (23) (16) (14) Operating Margin (22) (9) (9) Gross Margin NA NA (302) (307) Net Income NA NA (382) (408) Income before tax (56%) 16% EBITDA NA NA (379) (378) Operating Incom
Slide 18: US GAAP Balance Sheet
US GAAP Balance Sheet YoY Change QoQ Change Q3 05 Q2 06 Q3 06 KRW b US GAAP Balance Sheet Source: Unaudited, Company financials Net debt to equity ratio(%) (2%) (5%) 7,183 7,362 7,028 Shareholders’ equity 32% 11% 2,876 3,415 3,802 Long term debt (15%) (15%) Short term debt 6% 3% 6,282 6,473 6,668 Li
Slide 19: US GAAP Cash Flow
US GAAP Cash Flow YoY Change QoQ Change Q3 05 Q2 06 Q3 06 KRW b Others US GAAP Cash Flow Source: Unaudited, Company financials (1,105) (26) (281) (307) Net Change in cash (1,401) 1,401 Proceeds from Issuance of common stock (319) Financing Activities (616) (879) (586) Cash flow before financing (1,3
Slide 20: Net Income Reconciliation to US GAAP
Net Income Reconciliation to US GAAP Q2 06 Q3 06 KRW b Net Income Reconciliation to US GAAP Source: Unaudited, Company financials (302) (307) Net Income under US GAAP (1) (1) Others (4) Cash flow hedge Stock appreciation right Convertible bonds (including FX valuation) (1) (1) ESOP (1) (1) Income ta
Slide 21: EBITDA Reconciliation
EBITDA Reconciliation YoY Change QoQ Change Q3 05 Q2 06 Q3 06 US GAAP (KRW b) YoY Change QoQ Change Q3 05 Q2 06 Q3 06 K GAAP (KRW b) EBITDA Reconciliation (375) EBITDA(1+2+3+4+5+6+7) (1) 7. Amortization of debt issuance cost 6. Amortization of Intangible Asset 5. Depreciation of PP&E (78) (20) (22)
Slide 22: EBITDA Reconciliation (Continued)
EBITDA Reconciliation (Continued) EBITDA Reconciliation (Continued) EBITDA is defined as net income (loss) plus: interest income (expense); provision (benefit) for income taxes; depreciation of property, plant and equipment; amortization of intangible assets; and amortization of debt issuance cost.
Slide 23: LG.Philips LCD makes Technology you can see!
LG.Philips LCD makes Technology you can see! SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. LG.Philips LCD Co., Ltd. (Registrant) Date: October 10, 20