AU Optronics (2409) held a press conference on the afternoon of July 26. Before the meeting, it also announced that the consolidated revenue in the second quarter was NT$63.32 billion, an increase of 23.7% from the first quarter of 2023. The net loss attributable to the owners of the parent company in the second quarter of 2023 was NT$4.81 billion (approximately RMB 1.1 billion).
AUO's cumulative revenue in the first half of the year was NT$114.5 billion, with a net loss of NT$15.8 billion, and a net loss attributable to the owners of the parent company was NT$15.717 billion.
AUO said that in the second quarter of 2023, the total panel shipment area will reach 5706,000 square meters, an increase of 32.7% compared with the first quarter and an increase of 16.0% compared with the same period last year.
AU Optronics' second quarter revenue was 63.32 billion yuan, operating net loss was 4.42 billion yuan, net loss attributable to the parent company was 4.81 billion yuan, basic loss per share was 0.63 yuan, gross profit margin was 3.1%, operating net loss rate was 7.0%, EBITDA (operating net profit before depreciation and amortization) was 5.6%.
Looking back on the second quarter, AUO said that the demand for consumer products has recovered, and customers have successively replenished inventory, which has driven the panel shipment area to increase significantly compared with the previous quarter. The company's revenue has increased by 23.7% compared with the previous quarter, and the level of losses has also converged compared with the previous quarter. In terms of financial structure, the inventory days are 42 days and the net debt ratio is 14.1%, which is still maintained at a relatively stable level.
Looking forward to the third quarter, AUO said that overall inventory levels are healthy, and as it enters the traditional peak season, panel demand is expected to continue to improve. The company will continue to focus on changes in terminal demand and flexibly respond to challenges in the general environment. At the same time, we will use faster speed and more efficient execution to promote the development of panel and vertical field businesses to strengthen the company's operational resilience and pursue long-term stable operating results.
LGD has lost money for five consecutive quarters! Optimistic about recovery in panel demand
South Korean panel manufacturer LG Display (LGD) announced on July 26 that it suffered losses for the fifth consecutive quarter last quarter, but it is expected to turn a profit this quarter, mainly driven by the expansion of mobile phone panel shipments and other customization businesses.
LGD Chief Financial Officer Sung-hyun Kim said in a statement that panel demand is expected to increase as inventory of display panels has declined in the first half of this year.
LGD's operating loss in the second quarter was 881 billion won (approximately RMB 4.94 billion), an increase from the 488 billion won loss in the same quarter a year ago, reflecting the seasonal weakness in demand for mobile phone display panels, coupled with the continued weakness in demand for high-end TVs in the main market Europe.
The latest operating loss figure is in line with the 889 billion won expected by 16 analysts surveyed by Refinitiv SmartEstimate, but it is narrower than the 1.1 trillion won loss in the first quarter of this year.
LGD’s revenue fell 15% year-on-year to 4.7 trillion won in the last quarter.
Analysts said that the utilization rate of OLED panel factories used for high-end TVs has remained low, mainly due to weak sales in the main market Europe.
However, sales of panels supplied by LGD to Apple's new iPhone smartphone are expected to increase. Mobile phone display panel orders are concentrated in the second half of this year, the year-end shopping seasonof apples are stocked for production.
In addition, Reuters reported in May that LGD will start supplying high-end TV panels to Samsung Electronics. However, analysts said that the initial supply is unlikely to significantly boost LGD’s financial performance in the third quarter.
ANNA