Edgar Filing: LG.Philips LCD Co., Ltd.

Form 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2007

LG.Philips LCD Co., Ltd.

(Translation of Registrant’s name into English)

20 Yoido-dong, Youngdungpo-gu, Seoul 150-721, The Republic of Korea

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submission to furnish a report or other document that the registration foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ¨ No x

Q1 07 Earnings Results

I. Performance in Q1 2007 – Korean GAAP Consolidated Financial Data

(Unit: KRW B)


Item	Q1 07	Q4 06	Q1 06	QoQ		YoY
Quarterly Results
Revenues	2,722	3,065	2,471	-11.2	%	10.2	%
Operating Income	-208	-177	52	—		—
Ordinary Income	-246	-212	14	—		—
Net Income	-169	-174	48	—		—

II. IR Event of Q1 2007 Earnings Results


1. Provider of Information:		IR Communication team

2. Participants:		Institutional investors, securities analysts, etc.

3. Purpose:		To present Q1 07 Earnings Results of LG.Philips LCD

4. Date & Time:		4:30 p.m. (Korea Time) on April 10, 2007 in Korean
		9:00 p.m. (Korea Time) on April 10, 2007 in English

5. Venue & Method:		1) Earnings release conference in Korean:
		• Main conference room, 21st floor, Korea Exchange
		New Building, Seoul
		2) Conference call in English:
		• Please refer to IR homepage of LG.Philips LCD Co., Ltd. at www.lgphilips-lcd.com

6. Contact Information
1) Head of Disclosure:		Dong Joo Kim, Vice President, Finance & Risk Management
		Department (82-2-3777-0702)

2) Main Contact for Disclosure-related Matters:
		Kanghee Kim, Assistant Manager, Financing Team
		(82-2-3777-1665)

3) Relevant Team:		IR Communication team (82-2-3777-1010)

III. Remarks

Please note that the presentation material for Q1 07 Earnings Results is attached as an appendix and accessible on IR homepage of LG.Philips LCD Co., Ltd. at www.lgphilips-lcd.com.

Please note that the financial data included in the investor presentation and press release are prepared on a consolidated Korean GAAP basis only (US GAAP consolidated and Korean GAAP non-consolidated information are stated below).

Financial data for Q1 07 are unaudited. They are provided for the convenience of

investors and can be subject to change.

The following US GAAP consolidated information and Korean GAAP non-consolidated information are included for the convenience of investors.

US GAAP consolidated information

(Unit: KRW B)


Item	Q1 07	Q4 06	Q1 06	QoQ		YoY
Quarterly Results
Revenues	2,722	3,065	2,471	-11.2	%	10.2	%
Operating Income	-205	-172	46	—		—
Ordinary Income	-242	-186	41	—		—
Net Income	-169	-145	61	—		—

Korean GAAP non-consolidated information

(Unit: KRW B)


Item	Q1 07	Q4 06	Q1 06	QoQ		YoY
Quarterly Results
Revenues	2,606	2,967	2,418	-12.2	%	7.8	%
Operating Income	-237	-151	35	—		—
Ordinary Income	-251	-207	12	—		—
Net Income	-169	-174	48	—		—

Attached:

1) Press Release

2) Presentation Material

Attachment 1. Press Release

LG.PHILIPS LCD REPORTS FIRST QUARTER 2007 RESULTS

SEOUL, Korea – April 10, 2007 – LG.Philips LCD [NYSE: LPL, KRX: 034220], one of the world’s leading TFT-LCD manufacturers, today reported unaudited earnings results based on consolidated Korean GAAP for the three-month period ended March 31, 2007. Amounts in Korean Won (KRW) are translated into US dollars (USD) at the noon buying rate in effect on March 30, 2007, which was KRW 941 per US dollar.

•

Sales in the first quarter of 2007 decreased by 11% to KRW 2,722 billion (USD 2,893 million) from sales of KRW 3,065 billion (USD 3,257 million) in the fourth quarter of 2006 and increased 10% compared to KRW 2,471 billion (USD 2,626 million) in the first quarter of 2006.

•

Operating loss in the first quarter of 2007 was KRW 208 billion (USD 221 million) compared to an operating loss of KRW 177 billion (USD 188 million) in the fourth quarter of 2006, and an operating profit of KRW 52 billion (USD 55 million) in the first quarter of 2006.

•

EBITDA in the first quarter of 2007 was KRW 515 billion (USD 547 million), a decrease of 8% from KRW 559 billion (USD 594 million) in the fourth quarter of 2006 and a year-over-year decline of 23% from KRW 670 billion (USD 712 million) in the first quarter of 2006.

•

Net income in the first quarter of 2007 was a loss of KRW 169 billion (USD 180 million) compared to a loss of KRW 174 billion (USD 185 million) in the fourth quarter of 2006 and a profit of KRW 48 billion (USD 51 million) in the first quarter of 2006.

Young Soo Kwon, CEO of LG.Philips LCD, said, “During the first quarter, our sales performance was encouraging, particularly in the TV and notebook PC segments, as the supply/demand environment improved and pricing began to stabilize. While we are pleased with these results, we continue to direct our resources on a number of key areas that we believe will bring about long-term shareholder value creation.”

“First, our efforts to better collaborate with our customers continue to pay off, as exemplified by major customers ranking us among their top suppliers. Second, our continued focus on intensive cost reduction resulted in a sequential 9% decrease in cost of goods sold on a square meter basis. Third, our finished goods inventory levels came in at approximately two weeks at the end of the quarter. Lastly, our approach to CAPEX has made certain that investments specifically correspond with market demand.”

Mr. Kwon continued, “While the first quarter presented many of the same industry-wide challenges that have been affecting the Company for the past several quarters, there are a few recent trends that are now positively impacting the industry: consumers are demanding LCDs over plasma display panels due to superior technology at comparative pricing in the 40” TV segment; and the industry is taking a more conservative and realistic approach to production and capital spending. We expect that going forward these dynamics will bring further strength to the market and are indicative of an industry turnaround in the very near future.”

First Quarter Financial Review

Revenue and Cost

Revenue for the three-month period ended March 31, 2007, increased by 10% to KRW 2,722 billion (USD 2,893 million) from KRW 2,471 billion (USD 2,626 million) for the corresponding period of 2006. TFT-LCD panels for TVs, monitors, notebook PC’s and other applications accounted for 45%, 28%, 22% and 5%, respectively, on a revenue basis in the first quarter of 2007.

Overall, the Company shipped a total of 2.2 million square meters of net display area in the first quarter of 2007, a 1% decrease quarter-on-quarter. The average selling price per square meter of net display shipped was USD 1,287, which was a decrease of approximately 9% compared to the average of the fourth quarter of 2006. The ending average selling price per square meter was USD 1,246, a decrease of approximately 10% compared to the end of the fourth quarter of 2006.

The total cost of goods sold decreased 10% sequentially to KRW 2,771 billion (USD 2,945 million), and increased 21% year-over-year. The sequential decrease is largely attributable to cost reduction. The cost of goods sold per square meter of net display area shipped was KRW 1.2 million (USD 1,314) for the first quarter of 2007, down 9% from the fourth quarter of 2006.

Liquidity

As of March 31, 2007, LG.Philips LCD had KRW 980 billion (USD 1,041 million) of cash and cash equivalents. Total debt was KRW 4,332 billion (USD 4,604 million), and the net debt-to-equity ratio was 50% as of March 31, 2007, compared to 46% as of December 31, 2006.

Capital Spending

Capital expenditures in the first quarter of 2007 were KRW 492 billion (USD 523 million) compared to KRW 845 billion (USD 898 million) in the first quarter of 2006, and were largely for P7 and the Poland module plant.

Utilization and Capacity

Total input capacity on an area basis decreased approximately 4% sequentially in the first quarter. This decrease was largely due to reduction of production.

Outlook

The following expectations are based on information as of April 10, 2007. The Company does not expect to update its expectations until next quarter’s earnings announcement. However, the Company reserves the right to update its full business outlook, or any portion thereof, at any time and for any reason.

“Generally, our results in the first quarter of 2007 came in better than the guidance provided last quarter. Looking ahead, we expect continued execution on our core operational drivers and a healthier market situation. This will have a direct and positive impact on our sequential improvement in profitability,” said Ron Wirahadiraksa, CFO of LG.Philips LCD.

“For the second quarter of 2007, in the TV segment we expect shipments to increase by a high twenties percentage with an average and ending ASP decline of a mid-single digit percentage. In

the IT segment, we anticipate shipments to increase by a low teens percentage with an average ASP decline of a low-single digit percentage and an ending ASP increase of a mid-single digit percentage. Overall, we expect shipments in the second quarter of 2007 to increase by a high teens percentage with an average ASP decline of a mid-single digit percentage and an ending ASP decline of a low-single digit percentage. Our COGS reduction per square meter is expected to be a low teens percentage in the second quarter. As a result, EBITDA margin for the second quarter of 2007 is expected to be a low twenties percentage. As previously discussed, we plan to maintain our capital expenditures in 2007 at approximately KRW 1 trillion, and expect to increase P7 input capacity to 110,000 input sheets per month in the third quarter, gearing us up for the anticipated demand increase in the second half of the year,” Mr. Wirahadiraksa concluded.

Earnings Conference and Conference Call

LG.Philips LCD will hold a Korean language earnings conference on April 10, 2007, at 4:30 p.m. Korea Standard Time on the 21^st floor, in the Main Conference Room of the Korea Exchange Building (KRX). An English language conference call will follow at 9:00 p.m. Korea Standard Time, 8:00 a.m. EDT and 12:00 p.m. GMT. The call-in number is +82 (0)31-810-3001 for both callers in Korea and callers outside of Korea. The confirmation number is 3777. Corresponding slides will be available at the Investor Relations section of the LG.Philips LCD web site: http://www.lgphilips-lcd.com

Investors can listen to the conference call via the Internet at http://www.lgphilips-lcd.com. To listen to the live call, please go to the Investor Relations section of the web site at least 15 minutes prior to the call to register and install any necessary audio software.

For those who are unable to participate in the call, a replay will be available for 30 days after the call. The call-in number is 031-810-3100 for callers in Korea and +82-31-810-3100 for callers outside of Korea. The confirmation number for the replay is 91448#.

About LG.Philips LCD

LG.Philips LCD Co., Ltd. [NYSE: LPL, KRX: 034220] is a leading manufacturer and supplier of thin-film transistor liquid crystal display (TFT-LCD) panels. The Company manufactures TFT-LCD panels in a wide range of sizes and specifications for use in TVs, monitors, notebook PCs, and various applications. LG.Philips LCD currently operates seven fabrication facilities and four back-end assembly facilities in Korea, China and Poland. In addition, LG.Philips LCD has sales and representative offices in ten countries and has approximately 23,000 employees globally. Please visit http://www.lgphilips-lcd.com for more information.

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Additional information as to factors that may cause actual results to differ materially from our forward-looking statements can be found in our filings with the United States Securities and Exchange Commission.


*Investor Relations Contacts:*
John Kim [Korea]		Joshua Hochberg [USA]
LG.Philips LCD		Sloane & Company
Tel: +822-3777-1010		Tel: +1-212-446-1892
Email: jonghkim@lgphilips-lcd.com		Email: jhochberg@sloanepr.com

*Media Contacts:*
Sue Kim [Korea]		Elliot Sloane [USA]
LG.Philips LCD		Sloane & Company
Tel: +822-3777-0970		Tel: +1-212-446-1860
Email: sue.kim@lgphilips-lcd.com		Email: ESloane@sloanepr.com

LG.Philips LCD

CONSOLIDATED STATEMENTS OF INCOME

(In millions of KRW)

(The financial statements are based on unaudited Korean GAAP)


	2007				2006
	Three months ended March 31				Three months ended Dec 31				Three months ended March 31
REVENUES	2,722,456		100	%	3,065,294		100	%	2,471,136		100	%
Cost of goods sold	(2,771,645	)	-102	%	(3,090,235	)	-101	%	(2,293,886	)	-93	%

GROSS PROFIT	(49,189	)	-2	%	(24,941	)	-1	%	177,250		7	%
Selling, general & administrative	(158,413	)	-6	%	(151,647	)	-5	%	(125,620	)	-5	%

OPERATING INCOME	(207,602	)	-8	%	(176,588	)	-6	%	51,630		2	%
Interest income	8,435		0	%	5,773		0	%	10,452		0	%
Interest expense	(49,100	)	-2	%	(53,440	)	-2	%	(37,585	)	-2	%
Foreign exchange gain (loss), net	4,954		0	%	4,469		0	%	(1,618	)	0	%
Others, net	(2,679	)	0	%	7,947		0	%	(8,709	)	0	%

Total other income (expense)	(38,390	)	-1	%	(35,251	)	-1	%	(37,460	)	-2	%

INCOME BEFORE TAX	(245,992	)	-9	%	(211,839	)	-7	%	14,170		1	%
Income tax (expense) benefit	77,393		3	%	37,494		1	%	33,348		1	%

NET INCOME (LOSS)	(168,599	)	-6	%	(174,345	)	-6	%	47,518		2	%

-	These financial statements are provided for informational purposes only.

LG.Philips LCD

CONSOLIDATED BALANCE SHEET

(In millions of KRW)

(The financial statements are based on unaudited Korean GAAP)


	2007 Mar 31				2006 Dec 31
ASSETS
Current assets:
Cash and cash equivalents	979,951		7	%	954,362		7	%
Trade accounts and notes receivable	892,594		7	%	859,300		6	%
Inventories	1,078,023		8	%	1,052,705		8	%
Other current assets	268,545		2	%	288,260		2	%
Total current assets	3,219,113		24	%	3,154,627		23	%

Investments and other non-current assets	906,892		7	%	781,287		6	%
Property, plant and equipment, net	9,061,801		68	%	9,428,048		70	%
Intangible assets, net	115,670		1	%	123,825		1	%

Total assets	13,303,476		100	%	13,487,787		100	%

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt	779,159		6	%	813,735		6	%
Trade accounts and notes payable	902,296		7	%	949,436		7	%
Other payables and accrued liabilities	1,259,664		9	%	1,445,618		11	%

Total current liabilities	2,941,119		22	%	3,208,789		24	%

Long-term debt	3,552,600		27	%	3,306,988		25	%
Other non-current liabilities	96,876		1	%	82,334		1	%

Total liabilities	6,590,595		50	%	6,598,111		49	%

Common Stock and additional paid-in capital	4,064,250		31	%	4,064,250		30	%
Retained Earnings	2,670,775		20	%	2,839,373		21	%
Capital adjustment	(22,144	)	0	%	(13,947	)	0	%
Shareholders’ equity	6,712,881		50	%	6,889,676		51	%

Total liabilities and shareholders’ equity	13,303,476		100	%	13,487,787		100	%

-	These financial statements are provided for informational purposes only.

LG.Philips LCD

CONSOLIDATED STATEMENTS OF CASH FLOW

(In millions of KRW)

(The financial statements are based on unaudited Korean GAAP)


	2007		2006
	Three months ended Mar 31		Three months ended Dec 31		Three months ended Mar 31
Net Income	(168,599	)	(174,345	)	47,518
Depreciation	708,498		715,314		617,259
Amortization	11,538		7,456		11,258
Others	47,740		24,518		17,205

Operating Cash Flow	599,177		572,943		693,240
Net Change in Working Capital	(272,132	)	598,922		(432,396	)

Change in accounts receivable	(32,297	)	483,584		34,424
Change in inventory	(25,319	)	95,582		(385,509	)
Change in accounts payable	(48,428	)	63,038		39,137
Change in others	(166,088	)	(43,282	)	(120,448	)

Cash Flow from Operation	327,045		1,171,865		260,844
Capital Expenditures	(491,830	)	(324,404	)	(844,859	)

Acquisition of property, plant and equipment	(492,969	)	(330,887	)	(838,667	)
(Delivery)	(344,774	)	(521,337	)	(759,762	)
(Other account payables)	(148,195	)	190,450		(78,905	)
Intangible assets investment	(2,057	)	(2,888	)	(1,649	)
Others	3,196		9,371		(4,543	)

Cash Flow before Financing	(164,785	)	847,461		(584,015	)
Cash Flow from Financing Activities	190,374		(364,846	)	64,687
Proceeds from Issuance of common stock	0		0		0

Net Cash Flow	25,589		482,615		(519,328	)

-	These financial statements are provided for informational purposes only.

LG.Philips LCD

CONSOLIDATED STATEMENTS OF INCOME

(In millions of KRW)

(The financial statements are based on unaudited US GAAP)


	2007				2006
	Three months ended Mar 31				Three months ended Dec 31				Three months ended Mar 31
REVENUES	2,722,456		100	%	3,065,294		100	%	2,471,136		100	%
Cost of goods sold	(2,758,941	)	-101	%	(3,076,095	)	-100	%	(2,295,316	)	-93	%

GROSS PROFIT	(36,485	)	-1	%	(10,801	)	0	%	175,820		7	%
Selling, general & administrative	(168,288	)	-6	%	(160,921	)	-5	%	(130,296	)	-5	%

OPERATING INCOME	(204,773	)	-8	%	(171,722	)	-6	%	45,524		2	%
Interest income	8,435		0	%	5,773		0	%	10,452		0	%
Interest expense	(46,976	)	-2	%	(51,926	)	-2	%	(35,886	)	-1	%
Foreign exchange gain (loss), net	(2,335	)	0	%	16,699		1	%	17,721		1	%
Others, net	3,163		0	%	14,989		0	%	2,832		0	%

Total other income (expense)	(37,713	)	-1	%	(14,465	)	0	%	(4,881	)	0	%

INCOME BEFORE TAX	(242,486	)	-9	%	(186,187	)	-6	%	40,643		2	%
Income tax (expense) benefit	73,245		3	%	41,426		1	%	20,523		1	%

NET INCOME(LOSS)	(169,241	)	-6	%	(144,761	)	-5	%	61,166		2	%

-	These financial statements are provided for informational purposes only.

LG.Philips LCD

CONSOLIDATED BALANCE SHEET

(In millions of KRW)

(The financial statements are based on unaudited US GAAP)


	2007 Mar 31				2006 Dec 31
ASSETS
Current assets:
Cash and cash equivalents	979,951		7	%	954,362		7	%
Trade accounts and notes receivable	892,594		7	%	859,300		6	%
Inventories	1,077,595		8	%	1,051,590		8	%
Other current assets	267,634		2	%	289,049		2	%
Total current assets	3,217,774		24	%	3,154,301		23	%

Investments and other non-current assets	917,362		7	%	794,998		6	%
Property, plant and equipment, net	9,116,897		68	%	9,485,148		70	%
Intangible assets, net	63,679		0	%	61,911		0	%

Total assets	13,315,712		100	%	13,496,358		100	%

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Short-term debt	779,871		6	%	814,777		6	%
Trade accounts and notes payable	902,296		7	%	949,436		7	%
Other payables and accrued liabilities	1,295,013		10	%	1,482,954		11	%

Total current liabilities	2,977,180		22	%	3,247,167		24	%

Long-term debt	3,540,018		27	%	3,291,065		24	%
Other non-current liabilities	100,233		1	%	84,556		1	%

Total liabilities	6,617,431		50	%	6,622,788		49	%

Common stock and additional paid-in capital	4,036,502		30	%	4,036,025		30	%
Retained earnings	2,680,672		20	%	2,849,912		21	%
Capital adjustment	(18,893	)	0	%	(12,367	)	0	%
Shareholders’ equity	6,698,281		50	%	6,873,570		51	%

Total liabilities and shareholders’ equity	13,315,712		100	%	13,496,358		100	%

-	These financial statements are provided for informational purposes only.

LG.Philips LCD

CONSOLIDATED STATEMENTS OF CASH FLOW

(In millions of KRW)

(The financial statements are based on unaudited US GAAP)


	2007 Three months ended Mar 31		2006
	2007 Three months ended Mar 31		Three months ended Dec 31		Three months ended Mar 31
Net Income	(169,241	)	(144,761	)	61,166
Depreciation	709,866		710,783		618,269
Amortization	1,877		1,788		1,597
Others	63,871		17,499		(10,105	)

Operating Cash Flow	606,373		585,309		670,927
Net Change in Working Capital	(279,328	)	586,556		(410,083	)

Change in accounts receivable	(32,297	)	483,584		34,424
Change in inventory	(26,005	)	95,985		(386,318	)
Change in accounts payable	(48,428	)	83,188		39,137
Change in others	(172,598	)	(76,201	)	(97,326	)

Cash Flow from Operation	327,045		1,171,865		260,844
Capital Expenditures	(491,830	)	(324,404	)	(844,859	)

Acquisition of property, plant and equipment	(492,969	)	(330,887	)	(838,667	)
(Delivery)	(344,774	)	(521,337	)	(759,762	)
(Other account payables)	(148,195	)	190,450		(78,905	)
Intangible assets investment	(2,057	)	(2,888	)	(1,649	)
Others	3,196		9,371		(4,543	)

Cash Flow before Financing	(164,785	)	847,461		(584,015	)
Cash Flow from Financing Activities	190,374		(364,846	)	64,687
Proceeds from Issuance of common stock	0		0		0

Net Cash Flow	(25,589	)	482,615		(519,328	)

-	These financial statements are provided for informational purposes only.

LG.Philips LCD

Net Income Reconciliation to US GAAP

(In millions of KRW)


	2007 Q1		2006 Q4
Net Income under K GAAP	(168,599	)	(174,345	)
US GAAP Adjustments	(642	)	29,584
Depreciation of PP&E	(655	)	(655	)
Amortization of IPR	10,841		9,399
Adjustment of AR discount loss	(194	)	(1,408	)
Capitalization of financial interests	(1,002	)	2,121
Pension expense	2,110		2,268
Income tax effect of US GAAP Adjustments	(4,148	)	3,965
ESOP	(476	)	(694	)
Convertible bonds (including FX valuation)	(3,911	)	9,293
Stock appreciation right	(1,133	)	1,533
Cash flow hedge	(1,671	)	2,355
Others	(403	)	1,407

Net Income under US GAAP	(169,241	)	(144,761	)

-	These financial statements are provided for informational purposes only(Unaudited).

Q1 ’07

Earnings Results

April 10, 2007

Attachment 2. Presentation Material

Disclaimer

This

presentation

contains

forward-looking

statements.

may

also

make

written

oral

forward-looking

statements

our

periodic

reports

the

United

States

Securities

and

Exchange

Commission

and

the

Korean

Financial

Supervisory

Service,

our

annual

report

shareholders,

our

proxy

statements,

our

offering

circulars

and

prospectuses,

press

releases

and

other

written

materials

and

oral

statements

made

our

officers,

directors

employees

third

parties.

Statements

that

are

not

historical

facts,

including

statements

about

our

beliefs

and

expectations,

are

forward-looking

statements.

These

statements

are

based

current

plans,

estimates

and

projections,

and

therefore

you

should

not

place

undue

reliance

them.

Forward-looking

statements

speak

only

the

date

they

are

made,

and

undertake

obligation

update

publicly

any

them

light

new

information

future

events.

Forward-looking

statements

involve

inherent

risks

and

uncertainties.

caution

you

that

number

important

factors

could

cause

actual

results

differ

materially

from

those

contained

any

forward-looking

statement.

Such

factors

include,

but

are

not

limited

to:

our

highly

competitive

environment;

the

cyclical

nature

our

industry;

our

ability

introduce

new

products

timely

basis;

our

dependence

growth

the

demand

for

our

products;

our

ability

successfully

execute

our

expansion

strategy;

our

dependence

key

personnel;

and

general

economic

and

political

conditions,

including

those

the

TFT-LCD

industry;

possible

disruptions

business

activities

caused

natural

and

human-induced

disasters,

including

terrorist

activity

and

armed

conflict;

and

fluctuations

foreign

currency

exchange

rates.

Additional

information

these

and

other

factors

that

may

cause

actual

results

differ

materially

from

our

forward-looking

statements

can

found

our

filings

with

the

United

States

Securities

and

Exchange

Commission.

This

presentation

also

includes

information

regarding

our

historical

financial

performance

through

March

31,

2007,

and

our

expectations

regarding

future

performance

reflected

certain

non-GAAP

financial

measures

defined

United

States

Securities

and

Exchange

Commission

rules.

required

such

rules,

have

provided

reconciliation

those

measures

the

most

directly

comparable

GAAP

measures,

which

available

our

investor

relations

website

http://www.lgphilips-lcd.com

under

the

file

name

2007

Earnings Results

Presentation.

Agenda

Q1 ’07 Earnings Results

Performance Highlights

Outlook

Paju

Display Complex

47”W

32”W

37”W

42”W

Q1 ’07 Earnings Results

Q1 ’07 Earnings Results

(8)

(0)

(6)

Net margin

(8)

EBITDA margin

(10)

(2)

(6)

(8)

Operating margin

(9)

(1)

(2)

Gross margin

Margin (%)

N/A

(174)

(169)

Net income

N/A

(212)

(246)

Income before tax

(23%)

(8%)

670

559

515

EBITDA

N/A

(177)

(208)

Operating Income

N/A

177

(25)

(49)

Gross Profit

21%

(10%)

2,294

3,090

2,771

COGS

10%

(11%)

2,471

3,065

2,722

Revenue

YoY

Change

QoQ

Change

Q1 ’06

Q4 ’06

Q1 ’07

KRW b

Source: Unaudited, Company financials

K GAAP (Consolidated)

Income Statement

(13%)

(3%)

7,752

6,890

6,713

Shareholders’

equity

Net debt to equity ratio (%)

21%

2,930

3,307

3,553

Long-term debt

14%

(4%)

686

814

779

Short-term debt

10%

5,975

6,598

6,590

Liabilities

1,076

1,053

1,078

Inventory

(8%)

1,060

954

980

Cash and cash equivalents

(3%)

(1%)

13,727

13,488

13,303

Assets

YoY

Change

QoQ

Change

Q1 ’06

Q4 ’06

Q1 ’07

KRW b

Source: Unaudited, Company financials

K GAAP (Consolidated)

Balance Sheet

(2)

628

722

720

Depreciation & Amortization

Others

160

(871)

(432)

599

(272)

Net change in working capital

545

(456)

(519)

482

Net change in cash

126

557

(366)

191

Financing activities

419

(1,013)

(584)

848

(165)

Cash flow before financing

353

(168)

(845)

(324)

(492)

CAPEX

(845)

261

1,172

327

Cash flow from operations

(217)

(174)

(169)

Net income

YoY

Change

QoQ

Change

Q1 ’06

Q4 ’06

Q1 ’07

KRW b

Source: Unaudited, Company financials

K GAAP (Consolidated)

Cash Flow

Performance Highlights

Shipments and ASP

Total K m²

ASP/m²

** (USD)

Source: Company financials

Net display area shipped

** Quarterly average selling price per square meter of net display area shipped

Display area shipment in K m

ASP per m

(USD)

1,274

1,485

1,993

2,275

$1,953

$1,598

$1,430

$1,414

1,000

2,000

3,000

4,000

Q1 ’06

Q2 ’06

Q3 ’06

Q4 ’06

$1,000

$2,000

2,243

$1,287

Q1 ’07

Revenue: Product Mix

Source: Company financials

(Based on USD)

Notebooks

Monitors

TVs

Applications

Q1 ’06

45%

30%

20%

Q4 ’06

48%

27%

21%

100

Q1 ’07

28%

22%

45%

Q1 ’07 Capacity Update

P7 averaged 78K

input sheets per month for the quarter

Source: Company financials

Quarterly input capacity

by Area (K m²

)

P1-P3

1,000

2,000

3,000

Q1 ’06

Q2 ’06

Q3 ’06

Q4 ’06

424

421

409

367

359

389

487

494

507

1,082

1,092

216

452

682

2,576

2,808

3,079

412

418

534

1,211

1,032

3,607

4,000

Q1 ’07

3,481

1,021

1,162

520

416

362

Cash ROIC

Source: Unaudited, Company financials

* IC

(Invested

Capital)

equals

average

net

debt

and

equity

for

the

designated

period;

Quarterly

ratios

are

annualized

K GAAP (Consolidated)

EBITDA margin

Sales / IC*

Cash ROIC

18%

124%

23%

27%

112%

30%

10%

98%

10%

11%

112%

12%

19%

Q1 ’06

Q2 ’06

Q3 ’06

Q4 ’06

Q1 ’07

Q1 ’06

Q2 ’06

Q3 ’06

Q4 ’06

Q1 ’07

Q1 ’06

Q2 ’06

Q3 ’06

Q4 ’06

Q1 ’07

107%

20%

Outlook

Outlook

Source: Company financials, delivery base

Capex

Schedule

(KRW b)

Capex

Schedule

(KRW b)

549

1,064

1,221

2006

2007

Others

Future production facilities

2,834

566

197

252

1,015

Total Shipments in m

–

Q2 ’07 vs. Q1 ’07

: High teens (%)

ASP per m

shipped

–

Average of Q2 ’07 vs. Average of Q1 ’07

Mid-single digit (%)

•

: Mid-single digit (%)

•

: Low-single digit (%)

–

End of Q2 ’07 vs. End of Q1 ’07

: Low-single digit (%)

•

: Mid-single digit (%)

•

: Mid-single digit (%)

COGS per m

–

Q2 ’07

: Low teens (%)

EBITDA Margin

–

Q2 ’07

: Low twenties (%)

CAPEX

–

2007

: Approximately KRW 1 trillion

Questions and Answers

Appendix

(8)

(1)

(5)

(6)

Net margin

(9)

(0)

EBITDA

(10)

(2)

(6)

(8)

Operating margin

(8)

(1)

(0)

(1)

Gross margin

Margin (%)

N/A

(145)

(169)

Net income

N/A

(186)

(242)

Income before tax

(16%)

(11%)

687

574

509

EBITDA

N/A

(172)

(205)

Operating Income

N/A

176

(11)

(36)

Gross Profit

20%

(10%)

2,295

3,076

2,758

COGS

10%

(11%)

2,471

3,065

2,722

Revenue

YoY

Change

QoQ

Change

Q1 ’06

Q4 ’06

Q1 ’07

KRW b

Source: Unaudited, Company financials

US GAAP Income Statement

(13%)

(3%)

7,666

6,873

6,698

Shareholders’

equity

Net debt to equity ratio (%)

20%

2,944

3,291

3,540

Long-term debt

14%

(4%)

687

815

780

Short-term debt

10%

6,000

6,623

6,618

Liabilities

1,076

1,052

1,078

Inventory

(8%)

1,060

954

980

Cash and cash equivalents

(3%)

(1%)

13,666

13,496

13,316

Assets

YoY

Change

QoQ

Change

Q1 ’06

Q4 ’06

Q1 ’07

KRW b

Source: Unaudited, Company financials

US GAAP Balance Sheet

(2)

620

713

711

Depreciation & Amortization

(10)

Others

131

(866)

(410)

587

(279)

Net change in working capital

545

(456)

(519)

482

Net change in cash

126

557

(366)

191

Financing activities

419

(1,013)

(584)

848

(165)

Cash flow before financing

353

(168)

(845)

(324)

(492)

CAPEX

(845)

261

1,172

327

Cash flow from operations

(230)

(24)

(145)

(169)

Net income

YoY

Change

QoQ

Change

Q1 ’06

Q4 ’06

Q1 ’07

KRW b

Source: Unaudited, Company financials

US GAAP Cash Flow

(4)

Convertible bonds (including FX valuation)

(1)

Stock appreciation right

(2)

Cash flow hedge

(145)

(169)

Net Income under US GAAP

Others

(1)

(0)

ESOP

(4)

Income tax effect of US GAAP Adjustments

Pension expense

(1)

Capitalization of financial interests

(1)

(0)

Adjustment of AR discount loss

Amortization of IPR

(1)

Depreciation of PP&E

(0)

US GAAP Adjustments

(174)

(169)

Net Income under K GAAP

Q4 ’06

Q1 ’07

KRW b

Source: Unaudited, Company financials

Net Income Reconciliation to US GAAP

515

708

(77)

(8)

(169)

509

709

(73)

(8)

(169)

Q1 ’07

6. Amortization of Intangible Asset

(230)

(24)

(145)

1. Net Income

YoY

Change

QoQ

Change

Q1 ’06

Q4 ’06

US GAAP (KRW b)

(4)

2. Interest Expense

(3)

(11)

(5)

3. Interest Income

(53)

(32)

(20)

(41)

4. Provision (benefit) for Income Taxes

(2)

618

711

5. Depreciation of PP&E

(155)

(44)

670

559

EBITDA (1+2+3+4+5+6+7)

7. Amortization of Debt Issuance Cost

(7)

617

715

5. Depreciation of PP&E

(43)

(39)

(34)

(38)

4. Provision (benefit) for Income Taxes

(178)

(65)

687

574

EBITDA (1+2+3+4+5+6+7)

7. Amortization of Debt Issuance Cost

6. Amortization of Intangible Asset

(3)

(10)

(5)

3. Interest Income

(5)

2. Interest Expense

(217)

(174)

1. Net Income

YoY

Change

QoQ

Change

Q1 ’06

Q4 ’06

Q1 ’07

K GAAP (KRW b)

Source: Unaudited, Company financials

EBITDA Reconciliation

EBITDA Reconciliation (Continued)

EBITDA is defined as net income (loss) plus: interest income (expense); provision (benefit) for income taxes;

depreciation of property, plant and equipment; amortization of intangible assets; and amortization of debt

issuance cost. EBITDA is a key financial measure used by our senior management to internally evaluate the

performance of our business and for other required or discretionary purposes.

We believe that the presentation of EBITDA will enhance an investor’s understanding of our operating

performance as we believe it is commonly reported and widely used by analysts and investors in our industry. It

also provides useful information for comparison on a more comparable basis of our operating performance and

those of our competitors, who follow different accounting policies.

EBITDA is not a measure determined in accordance with U.S. GAAP.

EBITDA should not be considered as an

alternative to operating income, cash flows from operating activities or net income, as determined in accordance

with U.S. GAAP. Our calculation of EBITDA may not be comparable to similarly titled measures reported by other

companies.

LG.Philips LCD makes

Technology you can see!

New Direction

April 10, 2007

Major Action Items in ’07

Current Issues

Profitability in ’07

Mid-long Term Strategy

Enhancing supports to current customers

Increased utilization rate of P7 by expanding

TV customer base

5. Increasing

P7(Paju) Utilization

Through

“Consideration”

management

Customer-centric mindset

Spontaneous and positive thoughts

Form strong organization culture which can challenge

limits by building teamwork

6. Organization

Culture

Evaluating appropriate number of personnel

in each department

Plan to complete personnel reduction in 1H ’07

Zero–based budget management

4. Overhead Cost

Reduction

1. Major Action Items in ’07

Reviewing P8 investment for maintaining leading position

in IT segment

Necessity

investment

will

decided

according

the

possible

increase

size

current

fab’s

capacity

Needs

review

for

the

prudent

decision

3. P8 Investment

(Gen 5.5)

Currently,

LPL

has

KRW

980bn

cash

and

cash

equivalents;

plan

issue

during

Apr

’07

for

general

corporate

purpose

including

capital

expenditure

2. Financing

Possible for Philips to sell some portion of its LPL shares

during ’07

Philips plans to discuss with LPL about how and to whom

it sells LPL shares

No discussion

Philips

selling

some

portion

its

LPL

shares to MEI

1. Philips’

Stock

2. Current Issues

Continued TV panel supply shortage

IT panel supply shortage

P7 utilization rate maximization

Q4 ’07

TV panel supply shortage

Panel price increase in MNT/NBPC

Low cost (CI) model sales maximization

Q3 ’07

P7 utilization rate increase (TV shipments increase )

Slowed TV panel price decline

Panel price increase in MNT/NBPC

April purchasing CI realization

Targeting BEP

Q2 ’07

3. Profitability in ’07

4. Mid-long Term Strategy

Mid-long Term Strategy

Timing / direction

for Gen 8

investment

2. Technology /

product

differentiation

strategy

3. Strategy to secure

top-notch cost

competitiveness

4. Strategic alliance

5. Business

Transformation

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	LG.Philips LCD Co., Ltd.
	(Registrant)

Date: April 10, 2007	By:	/s/ Ron H. Wirahadiraksa
		(Signature)
	Name:	Ron H. Wirahadiraksa
	Title:	Joint Representative Director/
		President & Chief Financial Officer