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LG Elec., Premium Focused Strategy Results in Highest Profitability 2016 1Q

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Source : LG Elec.

Source : LG Elec.

 

Hyunjoo Kang / Reporter / jjoo@olednet.com

LG Electronics Inc. (LG) today announced first-quarter 2016 operating profit of KRW 505.2 billion (USD 420.25 million), a 65.5 percent increase from the same period in 2015 on sales of KRW 13.36 trillion (USD 11.12 billion).

The LG Home Appliance & Air Solution Company contributed the largest amount, KRW 407.8 billion (USD 339.23 million) in operating income for the quarter, while the LG Home Entertainment Company earned KRW 335.2 billion (USD 278.84 million) in operating profit, both up significantly from the first quarter of 2015. The LG Mobile Communications Company posted an operating loss of KRW 202.2 billion (USD 168.20 million) primarily due to increased marketing expenditures for the new LG G5 flagship smartphone, while the LG Vehicle Components Company reported a modest loss of KRW 15.8 billion (USD 13.14 million) reflecting higher R&D investments.

LG’s overall global sales and profitability are expected to improve in the second quarter, with double-digit growth in revenues and higher profitability anticipated as LG continues its premium-focused strategy with LG SIGNATURE products, the LG G5 smartphone and 4K Ultra HD OLED TVs.

LG Home Appliance & Air Solution Company recorded sales of KRW 4.22 trillion (USD 3.51 billion) in the first quarter, an increase of 4 percent year-on-year due in large part to higher premium product sales and growth in its B2B operations. Operating profit and operating margin of 9.7 percent were the highest in the history of LG home appliances. Revenues in the Korean domestic market increased 11 percent from the same period the previous year thanks to strong performance of TWIN Wash washing machines, premium refrigerators and commercial air conditioners. Weaker demand caused by the drop in oil prices and unfavorable currency exchange movements negatively affected sales in markets such as the Middle East, South America and CIS, while revenues in North America and Europe remained strong.

LG Mobile Communications Company reported sales of KRW 2.96 trillion (USD 2.46 billion), a decline of 15.5 percent from the first quarter last year. Shipments of 13.5 million smartphones were 12 percent lower both year-on-year and quarter-on-quarter, mainly as a result of the business entering the slow season as well as declining shipments of existing flagship models due to high interest in the recently announced LG G5. Competition in the smartphone market will continue to increase, leading to further price erosion which LG plans to counter with a strong global push for the modular LG G5 smartphone and new mass-tier models such as its X series.

LG Home Entertainment Company reported revenues of KRW 4.33 trillion (USD 3.6 billion), down 2.3 percent from last year’s first quarter as TV shipments declined somewhat in the key markets of North America and Europe. A solid operating margin of 7.7 percent was accompanied by a 207 percent increase quarter-on-quarter in operating income, demonstrating strong evidence of the growing demand for premium OLED and 4K OLED TV products. Improved cost structure and cost competitiveness is expected to drive improved profitability in the next quarter.

LG Vehicle Components Company sales of KRW 592.9 billion (USD 493.2 million) represent a 55 percent year-on-year increase, on the back of LG’s growing automotive infotainment business, although profitability was negatively affected by increased R&D investments. The outlook for LG’s automotive business is positive, with higher expected demand for electric vehicle components and as LG expands its global reach and secures new customers.

LGD Records 40 billion KRW Profit Against Expectations…“1 Million OLED TV Panel to be Shipped 2016”

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Source = LGD

Source = LGD

Hyunjoo Kang / Reporter / jjoo@olednet.com

LG Display reported today unaudited earnings results based on consolidated K-IFRS (International Financial Reporting Standards) for the three-month period ending March 31, 2016.

  • Revenue in the first quarter of 2016 decreased by 20% to KRW 5,989 billion from KRW 7,496 billion in the fourth quarter of 2015 and decreased by 15% from KRW 7,022 billion in the first quarter of 2015.
  • Operating profit in the first quarter of 2016 recorded KRW 40 billion, a quarter-on-quarter decrease of 34% from the operating profit of KRW 61 billion in the fourth quarter of 2015, and a year-on-year decrease of 95% from the operating profit of KRW 744 billion in the first quarter of 2015.
  • EBITDA in the first quarter of 2016 was KRW 853 billion, compared with EBITDA of KRW 882 billion in the fourth quarter of 2015 and with EBITDA of KRW 1,595 billion in the first quarter of 2015.
  • Net income in the first quarter of 2016 amounted to KRW 1 billion, compared with the net loss of KRW 14 billion in the fourth quarter of 2015, and a year-on-year decrease from the net income of KRW 476 billion in the first quarter of 2015.

LG Display announced its sixteenth straight quarterly operating profit at KRW 40 billion, which resulted from a thorough and profit-focused management based on differentiated technologies in response to a difficult market situation caused by panel oversupply and falling panel prices.

To deal with the difficult market situation, LG Display reduced the manufacturing of TV panels of 30-inches and below, which faced a large fall in prices, while expanding production of 40-inch range TV panels and those of 60-inch and above. The company also increased profitability by focusing on premium differentiated products based on M+ technology and maximized production efficiency in its overall operations by flexibly allocating production between IT product panels and TV panels.

Panels for TVs accounted for 38% of the revenue in the first quarter of 2016, tablets and notebook PCs for 24%, mobile devices for 23%, and desktop monitors for 15%.

With 77% in the liability-to-equity ratio, 153% in the current ratio, and 15% in the net debt-to-equity ratio as of March 31, 2016, the financial structure of the company remains stable.

LG Display will continue to increase profitability by concentrating on premium products such as Ultra HD TV panels based on its M+ technology to respond to a growing demand for large-size TVs, and make efforts to maximize efficiency by improving the manufacturing process in the second quarter of 2016.

Mr. Don Kim, CFO of LG Display, said “Panel shipments in the second quarter of 2016 are expected to increase by a mid-single digit percentage compared to the first quarter. Panel prices are expected to stabilize due to global sports events and an increase in new product shipments.”

 

◆ 65 inch, 30% of Total OLED Panel Shipment… 4-5 Trillion KRW Installation Investment

 

During the morning conference call on 27 April, LGD emphasized that the proportion of panel for ultra large size TV is increasing.

LGD reported that OLED panel shipment in Q1 2016 is slightly less than 200,000 units and estimated they will be able to ship 1 million units this year. While the 55 inch occupied over 85% of the total in 2015, in this year’s quarter the 55 inch proportion decreased slightly and 65 inch increased up to 30%.

LGD is operating OLED panel mass production line at 34,000 units per month as of H2 2015, and explained that the company will achieve Gen8 60,000 units capacity from Q2 2017. This year’s installation investment is expected to be of 4-5 trillion KRW. Along with this, LGD expects global oversupply of LTPS capacity, and revealed they will transform LTPS into plastic OLED (POLED) in stages.

LGD emphasized that the 55 inch FHD line’s golden yield has been almost achieved. The UHD section is also improving yield according to plan.

LGD, 예상깨고 흑자…1Q 395억원 이익 “올해 OLED TV 패널 100만장 출하”

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LGD가 2016 1Q 실적을 발표했다.

LGD 가 2016 1Q 실적을 발표했다.

강현주 기자 / jjoo@olednet.com

LGD (대표이사 부회장 한상범, 韓相範)가 예상을 깨고 2016년 1분기 흑자를 달성, 16분기 연속 흑자를 기록했다. 대형 패널 비중을 늘려 수익성을 개선했으며 특히 TV용 캐파(Capacity)를 증가시키는 등 생산효율성을 높인 데 따른 결과라는 게 이 회사의 설명이다.

LGD는 2016년 1분기 매출 5조 9,892억원, 영입이익 395억원을 달성했다고 27일 발표했다.  당기순이익은 12억원으로 전분기(-135억원) 대비 흑자전환 했으며, EBITDA는 8,525억원을 기록했다.

LGD는 LCD 공급과잉과 패널단가 하락이라는 어려운 시장환경 속에서도 영업흑자를 달성할 수 있었던 것은 차별화된 기술경쟁력을 바탕으로 철저한 수익성 위주의 경영을 했기 때문이라고 강조했다.

LG디스플레이는 공급과잉으로 가격하락폭이 컸던 30인치 이하의 TV용 패널 비중을 줄이고 40인치대 및 초대형인 60인치 이상의 TV패널 비중을 적극 확대하는 한편 M+, UHD 등 프리미엄 제품 비중을 강화하며 수익성을 높였다. 수익성이 낮은 IT 제품 생산 캐파를 TV용 캐파로 전환하는 등 사업 전분야에 걸쳐 생산효율성을 극대화했다.

이 회사는 1분기말 현재 LGD 는 부채비율은 77%, 유동비율은 153%, 순차입금 비율은 15%로 안정적인 재무구조를 유지하고 있다.

한편, LGD 의 2016년 1분기 매출액 기준 제품별 매출 비중은 TV용 패널이 38%, 태블릿PC 및 노트북PC용 패널이 24%, 모바일용 패널이 23%, 모니터용 패널이 15%를 차지했다.
LG디스플레이는 2분기에도 M+ 제품 등을 앞세워 대면적 수요에 적극 대응하고 UHD, HDR 등 프리미엄 제품 비중을 늘려 수익성을 극대화할 방침이다. 또한 지속적인 공정개선을 통해 생산효율성을 높일 계획이다.

◆65인치 비중 30%…올해 설비 투자 4~5조원 규모

LGD는 이날 오전 컨퍼런스콜을 통해 초대형 TV용 패널 비중이 점점 높아지고 있다고 강조했다.

LGD는  2016년 1분기 TV용 OLED 패널 출하량이  20만대가 조금 안되는 수준이며 올해 100만대 출하 달성이 가능할 것으로 보고있다. 지난 2015년에는 55인치가 85%이상의 비중을 차지했지만 올해 1분기에는 55인치 비중이 조금 줄고 65인치 비중이 30%까지 늘었다.
이 회사는 지난해 하반기 기준 월 3만4천장의 캐파로 OLED 패널 양산라인이 가동 중이며 오는 2017년 2분기부터 8세대 6만장 규모의 캐파를 확보할 것이라고 설명했다. 올해 설비투자는 4~5조원 규모로 집행할 예정이다.

이와 함께 LGD는 LTPS 캐파가 전세계적으로 공급과잉이 발생할 것으로 보고, 시장 상황에 따라 단계적으로 LTPS를 플라스틱 OLED(POLED)로 전환할 계획이라고 밝혔다.

이 회사는 55인치 풀HD 라인은 ‘골든수율’에 거의 달성했다고 강조했다. UHD 부문의 경우 그 보다는 못하지만 계획대로 수율향상이 이뤄지고 있다고 설명했다.

LG디스플레이 CFO(최고재무책임자) 김상돈 전무는 “2016년 2분기 면적기준 출하량은 전 분기 대비 한자릿수 중반(%) 증가하고 판가는 지역별 이벤트 및 신제품 출하 증가로 하락폭이 둔화되고 전반적 안정세를 기대한다”고 말했다.

 

 

LG Elec.`s operating profit is 505.2 billion KRW 1Q 2016…65.5%↑

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LG Elec. announced its preliminary earnings results for the 1Q of 2016(Source=LG Elec.)

LG Elec. announced its preliminary earnings results for the 1Q of 2016(Source=LG Elec.)

Hyunjoo Kang / jjoo@olednet.com

LG Electronics Inc. (LG) today announced its preliminary earnings results for the first quarter of 2016.
Tentative consolidated revenues for the first quarter of 2016 is 13.36 trillion KRW and operating profit is 505.2 billion KRW. Revenues are expected to be 4.5 percent lower than the same period the year prior while operating profit will be 65.5 percent higher year-over-year.

These figures are the tentative consolidated earnings based on K-IFRS. This tentative earnings is provided as a service to investors prior to LG Electronics’ final earnings results including net profit and details regarding each division which will be announced officially later this month.

LG전자, 2016년 1Q 영업익 5052억원…65.5% 상승

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LG전자가 1Q 깜짝 실적을 잠정 발표했다(출처=LG전자)

LG전자가 1Q 깜짝 실적을 잠정 발표했다(출처=LG전자)

11일 LG전자가 2016년 1Q에 전년동기 대비 65.5% 상승한 5,052억원의 영업이익을 올렸다고 잠정실적을 발표했다.

LG전자는 연결기준 매출 13조 3,621억원, 영업이익 5,052억원의 2016년 1Q 잠정실적을 발표했다.

LG전자 2016년 1Q 실적은 전년동기 대비 매출 4.5% 감소, 영업이익 65.5% 증가했다. 전분기 대비로는 매출 8.2% 감소, 영업이익 44.8% 증가했다.

잠정 실적은 한국채택 국제회계기준(K-IFRS)에 의거해 추정한 전체 매출액과 영업이익 예상치이며, 연결기준 당기순이익 및 사업부문별 구체적인 실적을 포함한 수치는 실적설명회 당일에 발표할 예정이다.

LG전자는 주주 및 투자자들에게 보다 신속하고 효과적으로 경영실적 정보를 전달하고자 2016년 1Q 실적부터 월초에 잠정실적을 먼저 공시한 후, 월말에 확정실적을 공시할 계획이다.

Samsung Electronics Announces Earnings Guidance for 1Q 2016

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Samsung Electronics announced its earnings guidance for the first quarter of 2016(Source=Samsung Electronic)

Samsung Electronics announced its earnings guidance for the first quarter of 2016(Source=Samsung Electronic)

Hyunjoo Kang / jjoo@olednet.com

Samsung Electronics announced its earnings guidance for the first quarter of 2016.

  • Consolidated Sales: Approximately 49.0 trillion Korean won
  • ŸConsolidated Operating Profit: Approximately 6.6 trillion Korean won

The above figures are estimates of consolidated earnings based on K-IFRS. Korean disclosure regulations do not allow earnings estimates to be provided as a range. Therefore, the above figures are based on the median of the earnings estimate range, as given below.

  • ŸSales:  48.0 ~ 50.0 trillion Korean won
  • Operating Profit: 6.5 ~ 6.7 trillion Korean won

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