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LG Display. (Photo = Yonhap News) |
[Alpha Biz= Kim Jisun] LG Display announced on Wednesday that it recorded consolidated annual revenue of KRW 26.6153 trillion and an operating loss of KRW 560.6 billion for 2023, according to its regulatory filing on changes in sales or earnings structure. Revenue increased by 24.8% year-on-year, while the operating loss shrank by approximately KRW 2 trillion.
For the fourth quarter, the company reported estimated revenue of KRW 7.8328 trillion and an operating profit of KRW 83.1 billion. This marks LG Display's first quarterly profit since Q4 2023, when it posted KRW 131.7 billion in operating profit.
The improvement is attributed to efforts to strengthen its OLED-centric business competitiveness, optimize cost structures, and enhance operational efficiency across the company.
The disclosure complies with regulations requiring large corporations to announce significant changes of 15% or more in annual revenue or earnings compared to the prior year on the day internal settlements are confirmed. The reported figures are preliminary estimates based on the Korean International Financial Reporting Standards (K-IFRS).
LG Display plans to release more detailed results, including Q4 and annual performance, during its earnings conference call on January 22.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
