LG Display Co., Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on January 27, 2012, reports a material change in revenues or income for LG Display Co., Ltd. The filing presents consolidated and non-consolidated K-IFRS financial data for the fiscal year ended December 31, 2011, compared to the prior year 2010.
Key Financial Metrics (Consolidated K-IFRS)
Financial figures are presented in KRW Billions (KRW B).
| Metric | 2011 | 2010 | YoY Change |
|---|---|---|---|
| Revenues | 24,291 | 25,512 | -4.8% |
| Operating Income | -924 | 1,310 | Turned to Loss |
| Net Income | -788 | 1,159 | Turned to Loss |
| Total Assets | 25,163 | 23,858 | +5.5% |
| Total Liabilities | 15,032 | 12,797 | +17.5% |
| Total Shareholders' Equity | 10,131 | 11,061 | -8.4% |
Note: The filing does not provide specific data on cash flow, debt maturity profiles, or liquidity ratios beyond total liabilities and equity.
Material Changes vs. Prior Period
- Profitability Collapse: The company shifted from profitability to significant losses in 2011. Operating income swung from a KRW 1,310 billion profit to a KRW 924 billion loss. Net income similarly turned from a KRW 1,159 billion profit to a KRW 788 billion loss.
- Revenue Decline: Consolidated revenues decreased by 4.8% year-over-year.
- Balance Sheet Deterioration: Total liabilities increased by 17.5%, while Total Shareholders' Equity declined by 8.4%, reflecting the erosion of capital due to losses.
- Non-Consolidated Data: Non-consolidated figures show a similar trend, with revenues down 6.1% and net income turning to a KRW 991 billion loss.
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 or 15d-16.
Investor Verification Checklist
- Verify the specific operational drivers (e.g., panel pricing, demand shifts) causing the 4.8% revenue decline and operating loss.
- Confirm the composition of the 17.5% increase in total liabilities to assess debt burden and refinancing risks.
- Review subsequent filings for cash flow statements to determine liquidity status, as this filing lacks cash flow data.
- Investigate the impact of the KRW 788 billion net loss on the company's ability to maintain dividend policies or capital expenditure plans.