LG Display Co., Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on January 21, 2011, reports a material change in revenues or income exceeding 15% for LG Display Co., Ltd. The filing presents consolidated and non-consolidated K-IFRS financial data for the fiscal years 2010 and 2009.
Key Financial Metrics (Consolidated K-IFRS)
Financial figures are presented in KRW Billions (KRW B).
| Metric | 2010 | 2009 | YoY Change | % Change |
|---|---|---|---|---|
| Revenues | 25,512 | 20,038 | 5,474 | 27.3% |
| Operating Income | 1,310 | 1,010 | 300 | 29.7% |
| Income Before Tax | 1,266 | 1,013 | 253 | 25.0% |
| Net Income | 1,159 | 1,118 | 41 | 3.7% |
| Total Assets | 23,858 | 19,704 | — | — |
| Total Liabilities | 12,797 | 9,664 | — | — |
| Total Shareholders' Equity | 11,061 | 10,040 | — | — |
Note: The filing does not provide specific data for cash flow, debt maturity profiles, or liquidity ratios beyond total liabilities and equity.
Material Changes vs. Prior Period
- Revenue Growth: Consolidated revenues increased by 27.3% year-over-year, driven by a 5,474 KRW B increase.
- Operating Profitability: Operating income rose 29.7%, outpacing revenue growth, indicating improved operational efficiency or margin expansion.
- Net Income Divergence: While operating income grew significantly, consolidated net income grew only 3.7%. This suggests increased non-operating expenses, taxes, or minority interest impacts not detailed in the summary table.
- Balance Sheet Expansion: Total assets grew from 19,704 KRW B to 23,858 KRW B, while total liabilities increased from 9,664 KRW B to 12,797 KRW B.
Non-Consolidated Data and Outlook
The filing includes non-consolidated K-IFRS data for investor convenience. In this view, revenues grew 24.3% to 25,004 KRW B, but net income declined 7.9% to 1,003 KRW B. The filing contains no forward-looking guidance, management commentary on future strategy, or specific risk factors beyond the disclosure of the material change itself.
Investor Verification Checklist
- Verify the specific drivers of the 27.3% revenue increase (e.g., volume vs. price, specific product lines).
- Investigate the discrepancy between the 29.7% operating income growth and the 3.7% net income growth in the consolidated statement.
- Review the full 2010 annual report (Form 20-F) for detailed cash flow statements and debt maturity schedules not included in this 6-K.
- Confirm the impact of non-consolidated entities on the overall financial health, given the divergence in net income trends between consolidated and non-consolidated figures.