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Lg.Philips LCD reports second quarter results
Leading South Korean LCD panel manufacturer LG.Philips LCD reports its results for the second quarter ended June 30. Here are some excerpts from the official press release:
In the second quarter of 2021, sales increased by 12% compared to the first quarter, and reached 2.23 billion. Doll. (was 2 billion.). The company expects an increase in shipments and average selling prices in the third quarter of 2021, so it is holding its capex budget for the year in the range of 3.35 billion to 4.31 billion. Doll.
Net income in the second quarter of 2021 amounted to 678 million. Doll., providing a profit of 40 million. Doll. (in the first quarter, the company incurred about 76 million. Doll. losses). The increase in the volume of supplies made it possible to smooth out the effect of lower prices.
Shares of panels for desktop monitors, laptop computers, televisions and “other uses” in revenue were 53, 18, 24 and 5 percent, respectively. For comparison – in the first quarter, these shares were 56, 18, 22 and 4 percent, respectively.
An interesting indicator is the total area shipped by LG.Philips LCD panels turned out to be equal to 1,096,000 square meters. This is 14% more than in the first quarter. Average selling price per square meter was $ 2,062., approximately 1.1% lower than the average in the first quarter.
The total value of the company as of June 30, 2021 in cash and cash equivalents was 1.287 billion. Doll., and the total debt is 3.469 billion. Doll., that is, the ratio of borrowed and own funds is 40%.
The company expects its business to continue to grow in the second half of 2021. The volume of shipments will increase mainly due to the growth in the TV and monitor segments.
Source: LG.Philips LCD