LG Display Co., Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on January 28, 2015, reports a material change in revenues or income exceeding 15% for LG Display Co., Ltd. The filing presents consolidated K-IFRS financial data comparing the full fiscal year 2014 against 2013.
Key Financial Metrics
| Metric (KRW K) | 2014 | 2013 | YoY Change | % Change |
|---|---|---|---|---|
| Revenues | 26,455,529,417 | 27,033,035,360 | -577,505,943 | -2.1% |
| Operating Income | 1,357,254,860 | 1,163,314,395 | 193,940,465 | 16.7% |
| Income Before Tax | 1,241,957,393 | 830,305,254 | 411,652,139 | 49.6% |
| Net Income | 917,403,742 | 418,973,184 | 498,430,558 | 119.0% |
| Total Assets | 22,967,023,115 | 21,715,284,280 | 1,251,738,835 | 5.8% |
| Total Liabilities | 11,183,613,517 | 10,917,864,108 | 265,749,409 | 2.4% |
| Total Shareholders' Equity | 11,783,409,597 | 10,797,420,172 | 985,989,425 | 9.1% |
The filing does not provide specific data on cash flow, debt maturity profiles, or liquidity ratios beyond total liabilities and equity.
Material Changes
- Profitability Surge: Despite a 2.1% decline in revenue, Net Income more than doubled (119.0% increase) and Operating Income rose by 16.7%.
- Balance Sheet Growth: Total Assets increased by 5.8% and Shareholders' Equity grew by 9.1%, while Total Liabilities saw a modest 2.4% increase.
- Equity Ratio: The ratio of Total Shareholders' Equity to Capital Stock improved from 603.5% in 2013 to 658.6% in 2014.
Guidance, Outlook, and Risks
The filing text does not contain management commentary, forward-looking guidance, specific risk factors, or details on contingencies and unusual items. The document serves strictly as a notification of the material change in financial performance.
Investor Verification Checklist
- Verify the specific drivers behind the 119% increase in Net Income despite falling revenues (e.g., cost reductions, asset write-downs, or tax adjustments).
- Confirm the composition of the 2.4% increase in Total Liabilities to assess debt servicing obligations.
- Review the full 2014 Annual Report (Form 20-F) for detailed cash flow statements and segment performance data not included in this summary.
- Assess the sustainability of the improved operating margin given the revenue contraction.