LG Innotek (CEO by Ung-Beom Lee) has successfully reached its sales target for the 1st quarter with an all time high status in sales, making a turn-around for current surplus.
The company announced that its sales for the 1st quarter reached 1.23 trillion KRW and its operating profits registered at 23.9 billion KRW. This is the first turn-around to surplus in 3 quarters.
The earnings improvements, in sales and operating profits, posted growth rates of 1.7% and 139.8%, respectively, on quarter-on-quarter basis. Compared to the last year, the growth rates posted 12.3% and 423.8% increases.
An official from the company said, “In the midst of an accelerated growth of the mobile parts businesses, the recovery of demand in the display industry has driven the Sales growth of Display components businesses.”The official also added that, “An improvement of efficiency in resource access and cost competitiveness has helped make an earlier than expected turn around to surplus."
For the 2nd quarter , LG Innotek announced its plan to supply new products to its customers in a stabilized manner and to continue to expand its sales of high value-added products in order to improve its competitiveness.
LG Innotek”s performance in the 1st quarter of 2012
(Unit: 100 million won)
LG Innotek”s Earnings in 3rd Quarter of 2013
| |
‘2012.1Q |
‘2011.4Q |
Quarter-on-quarter growth |
‘2011.1Q |
Year-on-year growth |
| Sales |
12,340 |
12,136 |
1.7% |
10,993 |
12.3% |
| Operating profit |
239 |
-600 |
139.8% |
-74 |
423.8% |
The above data was filed based on the International Financial Reporting Standards (K-IRFS).
Performance for each business field
LED (Light Emitting Diode). The overall demand has increased but with the decrease in the selling price, the sales stood at 190.4 billion KRW, which was up 5% from the previous Quarter.
Optics Solution Despite the off-season impact, the company was able to record good sales thanks to its new products, standing at 384.7 billion KRW, a 1% Quarter-on-quarter increase.
DN (Display & Network). This division registered sales of 270.9 billion KRW, which was a 3% quarter-on-quarter increase. It was driven by an increase in demand and diversified customer base.
Substrate & Material(Substrate). The sales of Build up Printed Circuit Board (PCB) have declined but the division was able to manage to achieve sales of 127.7 billion KRW, which was a 1% fall from the previous quarter, reflecting sales increases in RFPCB (Rigid Flexible Printed Circuit Board) and Package Substrates businesses.
Substrate & Material(Material). Despite the sales decline in the Touch Window busines,Other products, including Tape Substrates and Photomasks, posted strong sales, thus contributing to overall sales of 184.1 billion KRW, which have been a 1% growth from the previous quarter.
AM (Automotive/Motor). Backed by steady growth in the sales of auto parts, the division recorded sales of 86.7 billion KRW, which is a 3% quarter-on-quarter increase.
