2. Disclaimer
This presentation contains forward-looking statements. We may also make written or oral forward-looking
statements in our periodic reports to the United States Securities and Exchange Commission and the Korean
Financial Supervisory Service, in our annual report to shareholders, in our proxy statements, in our offering
circulars and prospectuses, in press releases and other written materials and in oral statements made by our
officers, directors or employees to third parties. Statements that are not historical facts, including statements
about our beliefs and expectations, are forward-looking statements. These statements are based on current
plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking
statements speak only as of the date they are made, and we undertake no obligation to update publicly any of
them in light of new information or future events.
Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of
important factors could cause actual results to differ materially from those contained in any forward-looking
statement. Such factors include, but are not limited to: our highly competitive environment; the cyclical nature of
our industry; our ability to introduce new products on a timely basis; our dependence on growth in the demand
for our products; our ability to successfully execute our expansion strategy; our dependence on key personnel;
and general economic and political conditions, including those related to the TFT-LCD industry; possible
disruptions in business activities caused by natural and human-induced disasters, including terrorist activity and
armed conflict; and fluctuations in foreign currency exchange rates. Additional information as to these and other
factors that may cause actual results to differ materially from our forward-looking statements can be found in our
filings with the United States Securities and Exchange Commission.
This presentation also includes information regarding our historical financial performance through March 31,
2009, and our expectations regarding future performance which is available on our investor relations website at
http://www.lgdisplay.com under the file name Q1 2009 Earnings Results Presentation.
6. Balance Sheets & Financial Ratios
Balance Sheets Financial Ratios
(Unit : KRW B) (Unit : %)
5
74%
87%
110%
130%
147%
219%
5%5%
12%
Liabilities to
Equity Ratio
Current Ratio
Net Debt to
Equity Ratio
Q1 ’08 Q1 ’09Q4 ’08Q4 ’08 Q1 ’09
Assets 15,238 17,388
7,018
Cash* 2,988 3,423 3,566
Debt 4,014 3,887 4,016
Net Debt 1,026 464 450
Inventory 1,031 1,137 1,193
10,370
8,100
4,786
3,314
9,288
18,562
Current Assets 7,285 7,718
Non-Current Assets 7,953 10,844
Liabilities 6,480 9,712
Current Liabilities 3,321 5,915
Non-Current
Liabilities
3,159 3,797
Shareholder’s Equity 8,758 8,850
Q1 ’08
KGAAP (Consolidated)
* Cash includes short term financial instruments.
Source : Company financials
7. Cash Flow
Net Cash Flow*
3,566
143
10
0
10
(1,009)
412
429
556
(255)
1,142
3,423
Q1 ’09
Cash at the end of the Quarter
Net Change in Cash
Other Financing Activities
Dividend
Cash Flow from Financing
Activities
Cash Flow from Investing Activities
Others
Change in Working Capital
Depreciation & Amortization
Net Income
Cash Flow from Operating
Activities
Cash at the beginning of the
Quarter
Cash Flow
(Unit : KRW B)(Unit : KRW B)
Cash In Cash Out Net
Depreciation
Change in
Working
Capital
Others
CAPEX
& Capital
Investment
*
556
412
429
133
1,009
Net Income255
* Excludes cash flow from financing activities KGAAP (Consolidated)
Source : Company financials
6
13. 12
Outlook
► Total Shipment in m2 (QoQ)
• Mid to high twenties (%) ↑
► ASP
• Gradual increase expected
► COGS per m2 (USD)
• Mid single digit (%) ↓
► CAPEX
• Approximately KRW 2.5 trillion
Q2 ’09
2009
17. K GAAP Balance Sheet
* Cash includes short term financial instruments KRW 1,880B in Q1 ’09, KRW 2,055B in Q4 ’08 and KRW 1,980B in Q1 ’08 respectively.
K GAAP (Consolidated)
16
KRW bn Q1 ’09 Q4 ’08 Q1 ’08 QoQ Change YoY Change
Assets 18,562 17,388 15,238 7% 22%
Cash* 3,566 3,423 2,988 4% 19%
Inventory 1,193 1,137 1,031 5% 16%
Liabilities 9,712 8,100 6,480 20% 50%
Short term debt 1,550 1,154 976 34% 59%
Long term debt 2,466 2,733 3,038 -10% -19%
Shareholders’ Equity 8,850 9,288 8,758 -5% 1%
Net Debt to Equity Ratio (%) 5 5 12 0 -7
Source: Unaudited, Company financials
18. K GAAP Cash Flow
* Working capital consists of net change in AR, inventory and AP.
- Working capital includes F/X effect.
** Cash flow from investing activities excludes increase (decrease) of short term financial instruments KRW -175B in Q1 ’09, KRW -945B
in Q4 ’08 and KRW 1,195B in Q1 ’08 respectively.
K GAAP (Consolidated)
17
KRW bn Q1 ’09 Q4 ’08 Q1 ’08 QoQ Change YoY Change
Net Income -255 -684 717 429 -972
Depreciation & Amortization 556 538 685 18 -129
Other Financing Activities 10 -359 532 369 -522
Dividend 0 0 -268 0 268
Others 412 330 83 82 329
Working Capital* 429 992 -412 -563 841
Cash Flow from Operating
Activities
1,142 1,176 1,073 -34 69
Cash Flow from Investing
Activities**
-1,009 -1,179 -330 170 -679
Cash Flow before Financing
Activities
133 -3 743 136 -610
Net Change in Cash 143 -362 1,007 505 -864
Source: Unaudited, Company financials
19. 18
EBITDA Reconciliation
Source: Unaudited, Company financials
We are adding depreciation and amortization to operating income to calculate EBITDA. It is a key financial
measure used by our senior management to internally evaluate the performance of our business and for other
required or discretionary purposes.
We believe that the presentation of EBITDA will enhance an investor’s understanding of our operating
performance as we believe it is commonly reported and widely used by analysts and investors in our industry. It
also provides useful information for comparison on a more comparable basis of our operating performance and
those of our competitors, who follow different accounting policies.
EBITDA is not a measure determined in accordance with GAAP. Our calculation of EBITDA may not be
comparable to similarly titled measures reported by other companies.
K GAAP (Consolidated)
KRW bn Q1 ’09 Q4 ’08 Q1 ’08 QoQ Change YoY Change
1. Operating Income -412 -288 881 -124 -1,293
2. Depreciation of PP&E 546 527 671 19 -125
3. Amortization of Intangible Assets 10 11 14 -1 -4
EBITDA (1+2+3) 144 250 1,566 -106 -1,422