LG Display announced on the 15th that it recorded consolidated annual sales of 26.6153 trillion won and an operating loss of 560.6 billion won last year through its revenue and profit structure change disclosure.
Sales increased by 25% compared to the previous year (21.3308 trillion won), while the operating loss decreased by about 2 trillion won from the previous year (25.102 trillion won).
The company noted in the disclosure that "sales grew compared to the previous year due to the advancement of the business structure centered on organic light-emitting diode (OLED), and profitability improved through structural cost reduction activities and operational efficiency, thus reducing the loss margin."
LG Display is estimated to have recorded sales of 7.8328 trillion won and operating profit of 83.1 billion won in the fourth quarter of last year. This marks the first time LG Display has recorded a profit on a quarterly basis since the fourth quarter of 2023 (131.7 billion won).
This disclosure is in accordance with regulations that require large corporations to mandatory disclose annual performance when there is a fluctuation of over 15% in annual sales or profit structure compared to the previous business year, effective on the day of the initial internal settlement of accounts. The reported performance is based on estimated figures in accordance with Korea International Financial Reporting Standards (K-IFRS).
LG Display plans to announce detailed results for last year's fourth quarter and annual settlement of accounts during its earnings conference call on the 22nd.