LG Display Co., Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on January 30, 2019, reports the consolidated K-IFRS financial data for LG Display Co., Ltd. for the fiscal year ended December 31, 2018. The filing is triggered by a material change in revenues or income exceeding 15% compared to the prior year.
Key Financial Metrics
| Metric (KRW K) | 2018 | 2017 | YoY Change | % Change |
|---|---|---|---|---|
| Revenues | 24,336,570,895 | 27,790,215,889 | -3,453,644,994 | -12.43% |
| Operating Income | 92,890,994 | 2,461,618,169 | -2,368,727,175 | -96.23% |
| Income Before Tax | -91,365,903 | 2,332,631,739 | -2,423,997,642 | -103.92% |
| Net Income | -179,443,033 | 1,937,051,629 | -2,116,494,662 | -109.26% |
| Total Assets | 33,175,710,243 | 29,159,687,234 | N/A | N/A |
| Total Liabilities | 18,289,464,427 | 14,178,177,736 | N/A | N/A |
| Total Shareholders' Equity | 14,886,245,816 | 14,981,509,498 | N/A | N/A |
Liquidity and Margins: The filing does not provide specific cash flow statements, current ratios, or explicit margin percentages. However, the shift from a net profit of approximately 1.94 trillion KRW in 2017 to a net loss of 179.4 billion KRW in 2018 indicates a severe contraction in profitability.
Material Changes
- Revenue Decline: Revenues decreased by 12.43% year-over-year.
- Profitability Collapse: Operating income plummeted by 96.23%, turning a significant profit into a marginal operating gain.
- Net Loss: The company reported a net loss for 2018, a reversal from the substantial net income recorded in 2017.
- Balance Sheet: Total assets increased to approximately 33.2 trillion KRW, while total liabilities rose to 18.3 trillion KRW. Shareholders' equity remained relatively stable, decreasing slightly from 14.98 trillion KRW to 14.89 trillion KRW.
Guidance, Outlook, and Risks
The filing text does not contain management commentary, forward-looking guidance, specific risk factors, or details on contingencies beyond the presentation of historical financial data. The document serves strictly as a notification of the material financial decline.
Investor Verification Checklist
- Verify the specific market drivers (e.g., panel prices, demand shifts) causing the 12.43% revenue decline.
- Investigate the operational factors leading to the 96.23% drop in operating income.
- Review the full annual report (Form 20-F) for detailed cash flow statements and segment performance.
- Assess the impact of the net loss on the company's credit rating and debt covenants.
- Confirm if the slight decrease in shareholders' equity is solely due to the net loss or includes other comprehensive income adjustments.