LG Display Co., Ltd.

In the news

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See more articles on LG Display Co., Ltd.

Company Background

LG Display is the world's largest liquid crystal display panel maker. Its largest shareholder is LG Electronics.

The company grew rapidly after it formed a joint venture with Dutch company Royal Philips, beginning in 1999. Royal Philips sold all of its shares by 2009 to terminate the joint venture. Currently, LG Display conducts business on its own.

LG Display has two production bases in South Korea and one in Guangzhou, China. It also sells products to companies outside the group, as well as to LG Electronics. The company has a reputation for quality, as shown by the fact that U.S. tech giant Apple, which is known for its stringent technology valuation, has continued to adopt the company's LCD panels in its iPhone series of smartphones.

Reacting to increased competition from Chinese rivals, LG Display has shifted to production of high-resolution displays. It was among the first LCD panel makers in the world to launch mass production of large organic light-emitting diode displays. Although small and midsize OLED displays are widely used in smartphones, it is difficult to produce large displays. LG Display overcame the barrier by adopting unique architecture.

LG Electronics is among the few makers of large OLED TV's, the main products with which LG Display can differentiate itself from its rivals. However, it could also be a risk factor. Any delay in market expansion could lead to a slowdown in panel demand and negatively affect large investments.

Business Summary

LG Display Co., Ltd. engages in the manufacture and sale of thin film transistor and organic light-emitting diode display (OLED) products. Its products include television, commercial, monitor, notebook, mobile, auto, and OLED display. The company was founded on February 28, 1985 and is headquartered in Seoul, South Korea.

Financial Highlights

Dec 2019	KRW	USD
Revenue	23,475.56B	20,130.23M
Gross Profit	1,642.41B	1,408.36M
Operating income	-1,360.76B	-1,166.84M
Income before tax	-3,356.38B	-2,878.09M
Net income	-2,829.70B	-2,426.46M
EBITDA	2,334.29B	2,001.64M
Diluted EPS	-7,908.27	-6.78
Dividends Per Share	0	0
Total Assets	35,574.56B	30,761.86M
Total liabilities	23,086.28B	19,963.06M
Total equity	11,340.48B	9,806.28M
Operating cash flow	2,714.04B	2,327.28M
	Currency in KRW	Currency in USD

Historical Data

KRW | USD

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019
Revenue	28,383.88B	26,504.07B	27,790.21B	24,336.57B	23,475.56B
Gross Profit	4,297.43B	3,620.57B	5,226.84B	2,910.69B	1,642.41B
Operating income	1,625.81B	1,311.41B	2,459.82B	92,887M	-1,360.76B
Income before tax	1,415.21B	1,316.23B	2,332.63B	-91,366M	-3,356.38B
Net income	966,553M	906,713M	1,802.75B	-207,239M	-2,829.70B
EBITDA	5,001.67B	4,332.98B	5,674.39B	3,647.45B	2,334.29B
Diluted EPS	2,701	2,534	5,038	-579.17	-7,908.27
Dividends Per Share	500	500	500	0	0
Total Assets	22,579.56B	24,884.33B	29,159.68B	33,175.71B	35,574.56B
Total liabilities	9,874.61B	11,421.94B	14,178.17B	18,289.46B	23,086.28B
Total equity	12,192.95B	12,955.99B	14,373.48B	13,979.18B	11,340.48B
Operating cash flow	2,752.15B	3,700.72B	6,772.84B	4,489.39B	2,714.04B

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019
Revenue	25,078.45M	22,844.60M	24,582.01M	22,113.74M	20,130.23M
Gross Profit	3,796.98M	3,120.67M	4,623.43M	2,644.83M	1,408.36M
Operating income	1,436.48M	1,130.34M	2,175.84M	84.40M	-1,166.84M
Income before tax	1,250.40M	1,134.49M	2,063.34M	-83.02M	-2,878.09M
Net income	853.99M	781.52M	1,594.63M	-188.31M	-2,426.46M
EBITDA	4,419.20M	3,734.72M	5,019.32M	3,314.30M	2,001.64M
Diluted EPS	2.38	2.18	4.45	-0.52	-6.78
Dividends Per Share	0.44	0.43	0.44	0	0
Total Assets	19,256.80M	20,603.02M	27,238.04M	29,732.66M	30,761.86M
Total liabilities	8,421.48M	9,456.82M	13,243.82M	16,391.34M	19,963.06M
Total equity	10,398.66M	10,726.93M	13,426.25M	12,528.39M	9,806.28M
Operating cash flow	2,431.65M	3,189.75M	5,990.95M	4,079.34M	2,327.28M

Valuation Measures

Dec 2019
PER	--
ROA	-8.23%
ROE	-22.35%
Operating margin	-5.79%
Profit margin	-12.05%

Key executives

President, Chief Executive Officer & Director: Ho-Young Jeong
Managing Director & Head-Finance: Sung-Hyun Kim
CTO & Senior Managing Director: In-Byung Kang
Managing Director & Head-IT business: Hyeong-Seok Choi
Managing Director & Head-Compliance Officer: Pil-Yong Kim

Shareholders

LG Electronics, Inc. (37.9%)
National Pension Service of Korea (5.0%)
The Vanguard Group, Inc. (1.8%)
BlackRock Fund Advisors (1.5%)
Dimensional Fund Advisors LP (1.2%)
Eastspring Investments (Singapore) Ltd. (1.0%)
Samsung Asset Management Co., Ltd. (0.7%)
Mirae Asset Global Investments Co., Ltd. (0.5%)
Research Affiliates LLC (0.4%)
Norges Bank Investment Management (0.4%)

Contact Details

Website:http://www.lgdisplay.com
Address: LG Twin Towers, 128 Yeoui-daero, Seoul, 07336, South Korea
Phone: +82.2.3777.1010

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Competitors

Au Optronics Corp.
Hannstar Display Corp.
Sharp Corporation
BOE Technology Group Co., Ltd. Class B
Samsung Electronics Co., Ltd.
Panasonic Corporation
Innolux Corp.
TCL Technology Group Corporation Class A
Chunghwa Picture Tubes Ltd.
Japan Display Inc.
Kopin Corporation
Universal Display Corporation
e-Litecom Co., Ltd
DSK Co., Ltd
Entire Technology Co Ltd
INVENIA Co., Ltd.
TLI Inc.
U.I. Display Co., Ltd.

Last Updated on 11 Aug, 2020