LG Display Co., Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on January 20, 2010, reports a material change in revenues or income exceeding 15% for LG Display Co., Ltd. The filing presents Korean GAAP consolidated and non-consolidated financial data for the fiscal years ended 2009 and 2008.
Key Financial Metrics (Consolidated)
Financial data is presented in Korean Won (KRW) Billions.
| Metric | 2009 | 2008 | YoY Change |
|---|---|---|---|
| Revenues | 20,614 | 16,264 | +26.7% |
| Operating Income | 1,067 | 1,735 | -38.5% |
| Net Income | 1,084 | 1,087 | -0.3% |
| Total Assets | 19,538 | 17,388 | +12.4% |
| Total Liabilities | 9,322 | 8,100 | +15.1% |
| Shareholders' Equity | 10,216 | 9,288 | +10.0% |
Note: The filing does not provide specific values 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 26.7% (KRW 4,350 billion) compared to 2008, driven by higher sales volumes or pricing.
- Profitability Compression: Despite revenue growth, Operating Income declined significantly by 38.5% (KRW 668 billion). Ordinary Income fell by 28.0%.
- Net Income Stability: Net Income remained nearly flat, decreasing only 0.3% year-over-year, suggesting non-operating income or tax effects offset the drop in operating earnings.
- Balance Sheet Expansion: Total assets grew 12.4%, while total liabilities increased at a faster rate of 15.1%.
Guidance, Outlook, and Risks
The filing text does not contain management commentary, forward-looking guidance, specific risk factors, or details on contingencies. The document serves strictly as a notification of the material change in financial performance under Rule 13a-16.
Investor Verification Checklist
- Verify the specific drivers behind the 38.5% decline in Operating Income despite a 26.7% revenue increase (e.g., raw material costs, factory utilization, or pricing pressure).
- Confirm the composition of non-operating income that allowed Net Income to remain stable while Operating Income collapsed.
- Review the breakdown of the 15.1% increase in Total Liabilities to assess leverage and debt service obligations.
- Compare these Korean GAAP figures with IFRS or US GAAP reports if available to ensure consistency in financial presentation.