South Korea’s LG Display reported record revenues (up 9 per cent y-o-y) which translated into a 191 per cent increase in operating profits, and with an EBITDA margin of 20 percent. A healthy trading quarter meant LG Display’s cashflow was also in positive territory, starting the quarter at Korean Won 2.2 trillion, and ending at 2.4 trillion Won.
Hee Yeon Kim, the head of LG Display’s Investor Relations team told analysts Oct 23 that it had shipped 9.7 square metres of screen glass, up 3 percent y-o-y.
“Our TV business was 42 per cent of our revenue, explained Me Hee, “followed by moving applications, 19 per cent, monitors 17 per cent, tablets 12 per cent, and notebooks at 10percent. Sales portion of mobile and tablet increased by 3 percentage points each, respectively, due to sequential shipment growth.”
Hee told analysts that LG Display expected Q4 production to grow in single digits, but that demand for larger screens was higher than anticipated.