LG Display Co., Ltd. (NYSE:LPL) Q1 2022 Earnings Conference Call April 27, 2022 1:00 AM ET

Company Participants

Sung-Hyun Kim - CFO

Daniel Lee - Head of Large Display Marketing

Hee-Yeon Kim - Senior Vice President, Corporate Strategy Group

Seong Gon Kim - Head of Medium Display Marketing

Ki Hwan Son - Vice President of Auto Marketing

Brian Heo - Head of Investor Relations

Conference Call Participants

Dohn Kim - KB Securities

Jun Il Kim - Meritz Securities

Junwoo Cho - Hyundai Motor Securities

Hyun-soo Kim - Hana Financial Investment

Simon Wu - BOA Securities

Operator

[Foreign Language] [Interpreted] Good morning and good evening. First of all, thank you all for joining this conference call. And now we will begin the Conference of the Fiscal Year 2022 First Quarter Earnings Results by LG Display. This conference will start with a presentation followed by a divisional Q&A session. [Operator Instructions].

Now we shall commence the presentation on the fiscal year 2022 first quarter and results by LG Display.

Brian Heo

[Foreign Language] [Interpreted] Good afternoon. This is Brian Heo in-charge of LG Display’s IR. On behalf of the company, let me thank all the participants at this conference call. Today I'm joined by the CFO, Sung-Hyun Kim; Hee-Yeon Kim, Senior Vice President of Corporate Strategy Group; Jeong Yi, [ph] in-charge of Business Intelligence; Daniel Lee, in-charge of Large Display Marketing; Seong Gon Kim, in charge of Medium Display Marketing; and Ki Hwan Son, Vice President of Auto Marketing.

[Foreign Language] [Interpreted] The conference call will be conducted in both Korean and English. Please refer to the provisional earnings release today or the IR Events section in the company's website for more details on the financial results of Q1 2022.

[Foreign Language] [Interpreted] Before we begin the presentation, please take a moment to read the disclaimer. [Foreign Language] [Interpreted] Please note that today's results are based on consolidated IFRS standards prepared for your benefit and have not yet been audited by an outside auditor.

[Foreign Language] [Interpreted] Let me start off with our business performance in Q1. Revenue in Q1 was KRW 6.471 trillion, down 27% QoQ and 6% YoY. Seasonality was a factor as well as the macroeconomic environment and market volatility following the change in the pandemic situation.

[Foreign Language] [Interpreted] Operating profit was KRW 38 billion, shipment of large and small OLED panel decreased and LCD price fell. Operating profit margin in Q1 was 1% with EBITDA margin at 19%. Net profit was KRW 54 billion.