LG Display Co., Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on January 26, 2022, 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 2021 against 2020.
Key Financial Metrics
| Metric (KRW K) | 2021 | 2020 | Change |
|---|---|---|---|
| Revenues | 29,878,043,071 | 24,261,560,615 | +23.1% |
| Operating Income | 2,230,608,128 | -36,464,277 | Turnaround to Profit |
| Net Income | 1,333,544,156 | -76,146,608 | Turnaround to Profit |
| Total Assets | 38,154,514,943 | 35,066,011,769 | +8.8% |
| Total Liabilities | 23,392,013,818 | 22,334,584,392 | +4.7% |
| Shareholders' Equity | 14,762,501,125 | 12,731,427,377 | +16.0% |
Note: The filing text 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: Revenues increased by approximately 5.62 trillion KRW (23.1%) year-over-year.
- Profitability Reversal: The company returned to profitability across all major income metrics. Operating income swung from a loss of 36.5 billion KRW in 2020 to a profit of 2.23 trillion KRW in 2021.
- Net Income: Net income improved from a loss of 76.1 billion KRW in 2020 to a profit of 1.33 trillion KRW in 2021.
- Balance Sheet: Total assets grew by 8.8%, while total liabilities grew at a slower rate of 4.7%, resulting in a 16.0% increase in shareholders' equity.
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 financial change pursuant to Rule 13a-16 or 15d-16.
Investor Verification Checklist
- Verify the specific drivers of the 23.1% revenue increase (e.g., panel pricing, volume, or product mix shifts).
- Confirm the sustainability of the operating margin recovery given the cyclical nature of the display industry.
- Review the full 2021 Annual Report (Form 20-F) for detailed cash flow statements and debt maturity schedules not included in this summary.
- Assess the impact of the 16.0% equity increase on future capital allocation or dividend policies.